Senior Correspondent
08 November 2023, 10:34 am
Pharma Aids Ltd., a listed pharmaceutical and chemical company, will give 10 percent cash dividend to shareholders.
The board of the company has decided to pay this dividend to the shareholders after reviewing the audited financial report for the financial year ended July 2022 to June 30, 2023. That is, against a share of 1 taka, a profit of 3 crore 12 lakh taka will be given to the shareholders. This is the company’s lowest dividend declaration ever.
On Wednesday (November 8), this information was revealed by the Dhaka Stock Exchange (DSE).
According to DSE data, the 1987-listed company posted a loss of Rs 2.5 paise per share for the year ended June 30. Due to this, the loss-making company has decided to pay 10 percent profit from the reserve fund, i.e. 1 rupee.
The previous year in 2022, the earnings per share (EPS) of the company was Rs 11 14 paise. From there 50 percent cash dividend was given to the shareholders ie 5 rupees per share. Not only 2022, the company has been paying cash dividends at the rate of 50 percent since 2018. Before that it paid 35 percent cash dividend in 2017 and 30 percent in 2016. However, in the previous year 2015, it paid minimum 25 percent cash dividend.
Regarding the loss in the financial year ended, the company said that the production of the company was disrupted due to the increase in the dollar, gas, electricity and raw material prices. As a result, the production also decreased. And because of this, the sale of products has decreased. All together increased the cost of production and increased the company’s losses.
The company’s net asset value per share (NAVPS) stood at Rs 91 28 paise in the loss-making year 30 June 2023. Which was 98 taka 83 paisa at the same time of the previous year.
The company’s Annual General Meeting (AGM) date has been fixed on December 28 for unanimous approval of the dividend declared by the board. The AGM will be held on the digital platform at 11:30 a.m. that day. That’s why the record date has been fixed on December 7.
Today the shares of the company were traded at the beginning of the day at 790 taka 70 paisa. The market value of the company stands at 246 crore 69 lakh 84 taka.
MI/ZS
