Kohinoor Chemical Company (Bangladesh) Limited has announced a record dividend for the fiscal year 2023-24, declaring a 50% cash dividend and a 10% stock dividend for shareholders – the company’s highest payout in decades.
This recommendation was approved at a board meeting on Tuesday, according to company sources.
Kohinoor had distributed a 40% cash and 10% stock dividend for FY23, and its highest previous payout was 35% cash and 15% stock dividend in FY21.
To approve the dividend and audited financial reports, Kohinoor Chemical has scheduled its annual general meeting (AGM) for 17 December at 3pm, which will be held virtually. Shareholders eligible to attend the AGM must be recorded by 28 November.
In the last fiscal year (FY24), Kohinoor Chemical achieved a record net profit of Tk51 crore, a 35% increase from the previous year. Its earnings per share (EPS) rose to Tk15.12 in FY24, compared to Tk11.19 in the previous fiscal year.
Additionally, the company’s net asset value per share reached Tk60.35, and its net operating cash flow per share improved to Tk28.67.
Listed on the Dhaka Stock Exchange since 1988, Kohinoor Chemical’s shares closed at Tk541.20 on Tuesday, down 1.53% from the previous session.
Of the company’s total shares, sponsor-directors hold 50.57%, institutional investors own 13.74%, foreign investors hold 0.04%, and general shareholders account for 35.65%.
Kohinoor Chemical, the oldest and largest national manufacturer and marketer of soaps, cosmetics, and toiletries in Bangladesh, was founded in 1956.
Following Bangladesh’s independence, it operated as a government-owned entity under Bangladesh Chemical Industries Corporation until 1988.
