Beximco Pharma announces highest-ever dividends in over two decades

Bangladesh’s one of the leading drug makers Beximco Pharmaceuticals has declared 35 percent cash dividend, a payout of over Tk 156 crore for the year ended on June 30, 2021.

According to data on the Dhaka Stock Exchange (DSE), Beximco Pharmaceuticals, which is a publicly traded company since 1986, had paid the highest 50 percent dividend in 1997.

The company had paid 15 percent cash and 10 percent stock dividends in 2020 and only 15 percent cash in 2019.

A sharp rise in earnings per share or EPS has helped the company announce higher dividends this year than the previous years.

The drug maker has reported EPS of Tk 11.08, up from Tk 8.67 a year ago and consolidated NAV per share rose to Tk 82.28.

Beximco Ltd, another company of the same group, has recommended 35 percent cash dividend for its shareholders for the year ended on June 30, 2021.

The company has reported EPS of Tk 7.53 and consolidated NAV per share of Tk 78.28 for the year.

Meanwhile, Shinepukur Ceramics, a concern of the same group, has declared a 2.5 percent cash dividend for its shareholders.

A meeting of the board of directors of Beximco Group recommended the dividends at a meeting on Thursday.

However, final approval regarding the dividends will be settled at the Annual General Meetings (AGM) scheduled on December 23.

Beximco Group set the record date for dividends of these three companies on November 22.

There will be no price limit for trading of the shares of these three companies on Sunday (October 24) following their corporate declaration.