Summit Alliance Port declares 18% cash dividend
SAPL stocks close at Tk47.40 on Thursday
Summit Alliance Port Limited (SAPL) has declared an 18% cash dividend for shareholders for the fiscal year 2024–25, compared to a 15% cash dividend in the previous year. The decision was approved at the company's board meeting held on Thursday.
The annual general meeting (AGM) to approve the dividend, financial statements, and other agenda items will take place on 23 December, with 27 November set as the record date.
Over the past three months, SAPL's share price has doubled. On Thursday, the stock closed at Tk47.40 on the Dhaka Stock Exchange.
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According to the declaration, the company's consolidated earnings per share (EPS) stood at Tk2.85, up from Tk1.75 in the same period last year. On a solo basis, EPS was Tk1.83, compared to Tk1.73 a year ago.
Alliance Holdings holds 23.48% of SAPL shares, while Summit Holdings owns 8.07%. Among key individuals, Alliance Holdings founder and SAPL Managing Director Jowher Rizvi owns 5.48%, and Summit Group Chairman Aziz Khan holds 7.03%.
SAPL, a leading inland container terminal and logistics operator, reported a 313% year-on-year jump in consolidated revenue to Tk612 crore during July-March FY25, up from Tk148 crore a year earlier. The growth was largely driven by its subsidiary Container Transportation Services (CTS), which contributed 72% of total revenue with Tk440 crore in sales.
The company's consolidated profit more than doubled, rising 106% to Tk69 crore from Tk33.43 crore in the same period of FY24. Earnings per share stood at Tk2.34 for the nine months to March.
Established in 2013, CTS initially offered domestic transportation services but expanded into freight forwarding after securing a customs licence in June last year. It also partnered with Germany's Hellmann Worldwide Logistics as its local agent.
In January, SAPL announced a strategic partnership with Hellmann Worldwide, under which the German logistics giant subscribed to 3.33 lakh new CTS shares at Tk66.50 each. The collaboration is expected to enhance SAPL's international reach and improve operational efficiency across South Asia.
