Unilever Consumer Care declares 300% cash dividend
Unilever Consumer Care has declared a 300% cash dividend to its shareholders for the year 2023 which ended on 31 December.
The company made the dividend announcement on the Dhaka bourse's website today (10 March).
But, in the first trading session after the dividend declaration, its share price fell over 5% to settle at Tk2,097 till 10:30am at the Dhaka Stock Exchange.
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Earlier, it had paid a 240% cash and 60% stock dividends for the year of 2022.
According to the company's disclosure, its earnings per share stood at Tk49.89 at the end of 2023, which is 32% higher than the previous year.
Unilever Consumer said, despite significant increase in raw and packing material costs and drop in revenue, earnings per share has improved due to efficiency in operating expenses, significant increase in net finance income, one-off benefit coming out of reassessment of past liabilities and obligations and one-off waiver of Technology and Trade Mark Royalty granted by the parent company for the year 2023.
