Walton declares 175% cash dividend, records over Tk 1,000 crore profit

The 19th Annual General Meeting (AGM) of Walton Hi-Tech Industries PLC (WHILPLC), the country's leading superbrand and technology giant, was successfully held on Tuesday at the Kurmitola Golf Club in Dhaka with a large turnout of institutional and general shareholders.

During the meeting, shareholders expressed their satisfaction and appreciation to the board of directors for declaring a 175% cash dividend despite the ongoing political instability and challenging business environment both at home and abroad.

Shareholders also lauded Walton's recent announcement to invest in a state-of-the-art lithium-ion battery manufacturing plant in Bangladesh and expressed optimism that the company's global market presence would soon expand to over 100 countries.

The meeting was presided over by the company's Chairman, S M Shamsul Alam. Vice-Chairman S M Ashraful Alam, Managing Director S M Mahbubul Alam, Directors S M Nurul Alam Rezvi and S M Monjurul Alam Ovee, and Independent Directors Samsul Alam Mallick, FCA; Professor Dr M Sadiqul Islam, PhD, FCA; and Akhter Matin Chaudhury, FCA, FCS were also present on stage.

Other attendees included statutory and corporate governance compliance auditors, senior officials, shareholders, guests, and representatives from regulatory bodies. Directors S M Rezaul Alam, Tahmina Afrose Tanna, and Raisa Sigma Hima, along with many shareholders, joined the event virtually. The meeting was moderated by Company Secretary Md Rafiqul Islam, FCS.

In his welcome speech, Chairman S M Shamsul Alam said the 'Made in Bangladesh' brand has been established on the global stage through innovation, skilled human resources, and technology-driven industrialisation. He added that Walton's products are now exported to more than 50 countries, significantly contributing to foreign currency earnings and national development through sustainable growth, innovative research, and employment generation.

Managing Director S M Mahbubul Alam presented the annual report for the financial year 2024–25, highlighting the company's performance and future business strategies. Addressing shareholders, he said the year had been challenging due to global trade instability and domestic political unrest, but Walton successfully navigated these difficulties through timely strategic planning and cost control. As a result, the company recorded a profit exceeding Tk 1,000 crore in the last fiscal year.

He also shared Walton's latest international branding initiative, announcing that Walton has become the regional official sponsor of the Argentina National Football Team. Under this partnership, global football icons such as Lionel Messi and Emiliano Martínez will feature in Walton's branding campaigns worldwide — a move expected to strengthen the company's presence across more than 100 countries.

The AGM unanimously approved the financial statements, audit report, directors' report, and the declaration of a 175% cash dividend along with a 10% stock dividend for the financial year 2024–25. The meeting also approved the appointments of A Qasem & Co., Chartered Accountants, as statutory auditors and Mohammad Sanaullah & Associates, Chartered Secretary & Consultant, as corporate governance compliance auditors for the financial year 2025–26, and finalised their remuneration.