Walton declares 300% cash dividend despite profit dropped over 35%
Its sponsors and directors decided to get a 90% cash dividend for the last fiscal
Country's electronic manufacturing giant Walton High Tech declared a 300% cash dividend to its general shareholders for the fiscal year 2022-23 despite the company suffering a 35% loss in profit than the previous year.
Its sponsors and directors decided to get a 90% cash dividend for the last fiscal.
These decisions came out in the board meeting that was held on Thursday.
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According to its disclosure, Walton's earnings per share was Tk25.84 in FY 2022-23, which was Tk40.16 a year ago.
The company said, global economic pressure and currency fluctuation eats its profit in the last fiscal year. It incurred a loss over Tk450 crore only for taka devaluation.
To approve the dividend and financial statement, Walton calls the annual general meeting on 29 October and the record date is 2 October.
