Profit plunges 43%, Monno Agro recommends 5% cash dividend
Monno Agro & General Machinery, a listed firm under the engineering sector, has reported that its net profit after tax plunged by 43% in the 2024-25 fiscal year.
Following the profit decline, the company cut its dividend payout, declaring a 5% cash dividend payable only to general shareholders.
With the declared 5% cash dividend, it said the general shareholders will receive Tk15.40 lakh as dividend for FY25. Previously, in FY24, Monno Agro, a subsidiary of Monno Group of Industries, had paid a 22% stock dividend to its shareholders.
Following dividend cuts and a sharp decline in profits, the shares price of Monno Agro—listed on the DSE in 1982 — declined by 14.24% or Tk47.2 each to Tk284 each at the Dhaka Stock Exchange (DSE).
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Usually, price shares price of any listed company may fall by up to 10% in a single day. However, due to the annual corporate declaration, no circuit breaker or price limit was in place, which is why Monno Agro's share price dropped by more than 10% today.
According to its financials for FY25, its net profit after tax declined to Tk44 lakh with an earnings per share (EPS) of Tk1.
In the previous fiscal year, its net profit was Tk77.37 lakh with EPS of Tk2.15.
In a stock exchange filing today, the company announced that its sponsor-directors — who hold 13.20 lakh shares, representing a 30% stake — will not be entitled to receive the dividend.
Only general shareholders, holding the remaining 70% stake — including public, foreign, and institutional investors — will be eligible for the declared dividend.
The annual general meeting of Monno Agro has scheduled on 11 December through the digital platform, and to identify its shareholders, record date has been fixed on 13 November.
The company reported net asset value per share at Tk110.86, which was Tk134.03 at the same time of the previous fiscal year.
While it's net operating cash flow per share become negative at Tk0.81, which was positive at Tk0.50, its disclosure read.
