Marico Bangladesh holds AGM

The 21st annual general meeting (AGM) of Marico Bangladesh (Marico) was held virtually on Monday.

Saugata Gupta, chairman of the Board of Directors of Marico, presided over the meeting, said a press release.

Speaking about the performance of the company, Saugata Gupta said that the company’s net profit after tax stood at Tk311 crores with a topline of Tk1131 crores. Consequently, the earnings per share (EPS) stood at Tk 98.69. He congratulated the government of Bangladesh, industry partners and members of Marico for the outstanding efforts in managing the effects of the covid-19 pandemic.

Managing Director of Marico Ashish Goupal, together with the members of the board; Independent Directors Parveen Mahmud (Chair of the Audit Committee), Zakir Ahmad Khan (Chair of the Nomination & Remuneration Committee); and Directors Sanjay Mishra, and Pawan Agrawal; along with other management officials of the Company were present at the AGM.

A large number of shareholders virtually attended the meeting. The major agenda of the AGM were-- adoption of the Director’s Report and Auditor’s Report along with the Audited Financials of 2020-21, declaration of Final Dividend for the year ended March 31, 2021, re-election & appointment of the Directors, appointment of Statutory Auditors and approval of Related Party Transactions.

During the AGM, a final cash dividend of 200 percent (equivalent to Tk 20 per share) was confirmed and approved. This was preceded by three interim cash dividends of 700 percent (equivalent to Tk 70 per share) declared and paid by the Company quarterly in this financial year – bringing the total cash dividend to 900 percent (equivalent to Tk9 0 per share) for the year ended March 31, 2021.