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SUNDAY, JULY 13, 2025
Walton declares an attractive cash dividend

Corporates

Press Release
05 September, 2024, 10:35 am
Last modified: 05 September, 2024, 10:39 am

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Walton declares an attractive cash dividend

Press Release
05 September, 2024, 10:35 am
Last modified: 05 September, 2024, 10:39 am
Walton declares an attractive cash dividend

Walton Hi-Tech Industries PLC, the country's leading electronics company listed in the capital market, declared an attractive 350% cash dividend to its general shareholders for the financial year 2023-24 amidst the adverse situation. General shareholders will get a Tk 35 cash dividend per share.

Its sponsors and directors decided to pay a 200% cash dividend for the last financial year. That means the company's sponsors and directors will receive a Tk 20 cash dividend per share.

These decisions came after the board of directors reviewed and approved the audited financial statement for the year ended 30 June 2024 in its 40th board meeting on Wednesday (September 4, 2024).

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Walton called the annual general meeting on 29 October 2024 to approve the dividend and financial statement, and the record date is 30 September 2024.

According to its disclosure, the company's operating profit margin improved while the finance cost decreased in FY 2023-24 compared to the last fiscal year. That's why the company's net profit after tax for the year ended 30 June 2024 increased by Tk 573.85 crore to Tk 1356.53 crore.

As a result, the company's earnings per share (EPS) stood at Tk 44.78 for the year ending 30 June 2024, which was Tk 25.84 in the previous financial year.

The company reported Net Asset Value Per Share (NAVPS) of Tk 379.30 (with revaluation) and Tk 277.86 (without revaluation) for the year ended June 30, 2024, as against Tk 343.73 (with revaluation) and Tk 242.18 (without revaluation), respectively, for the same period of the previous year.

The company's Net Operating Cash Flows Per Share (NOCFPS) stood at Tk 56.96 for the year ended 30 June 2024, compared to Tk 111.84 in the previous year. The NOCFPS decreased due to increased payments to suppliers and the government exchequer, which were necessary due to higher material purchases and sustainable sales growth.

Company sources said efficient management reduced operating costs in various sectors despite adverse situations. As a result, the company's various financial indicators have also significantly improved. Also, the company's profit increased at the expected rate due to increased sales following business expansion in domestic and international markets.

The board of directors expressed satisfaction with the company's overall business success and thanked the management.

Walton management expressed the hope that the company will maintain the continuity of profit growth in the coming years.

#walton / #corporates / #tbs

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