After relisting on the main board, Sonali Paper and Board Mills, a publicly traded company, saw significant growth, with revenue jumping by 11.63 per cent to over Tk278 crore in 2023-24 despite the economic crisis.
Meanwhile, the board of directors of the paperboard producer decided to recommend a 40 per cent cash dividend to its shareholders for the year that ended in June 2024.
The recommended dividend is expected to get the investors’ approval at the company’s annual general meeting (AGM), slated to be held on December 19, and a record date has been set for November 10.
The company disbursed 40 per cent cash in FY23 and FY24, 20 per cent cash and 20 per cent stock dividends for FY21, and the dividend payout for FY20 was 15 per cent [5 per cent cash and 10 per cent stock].
This concern of Younus Group also reported its profit of Tk 12.48 crore for FY24, down from Tk15.61 crore in the previous fiscal year.
In FY23, the company posted an 18 per cent surge in profit riding on whopping sales and other income. The listed firm’s earnings per share (EPS) stood at Tk 3.79 for FY23 against Tk 4.74 for the previous fiscal year.
Income from the core business saw double-digit growth as sales increased over the previous fiscal year, but other income, primarily from stock investments, declined, a top official of the company said.
The company reported a net asset value (NAV) per share of Tk 164.73 for the year that ended on June 30 this year. Its net operating cash flow per share (NOCFPS) was Tk 10.39.47 for the last fiscal year.
In 2022, Sonali Paper raised Tk 10.98 by one rights share against the existing two shares of the entity at an issue price of Tk 10 each.
On the other hand, the Narayanganj-based finished paper goods producer posted a net profit of Tk 23.14 crore in July–September of FY23, versus Tk 12.18 crore in the same period of FY22.
Sonali Paper, a subsidiary of the business conglomerate Yunus Group, returned to the DSE main board in July 2020 after trading at the over-the-counter (OTC) market for 11 years.
The company is mainly a producer of white and printing papers, simplex papers, and duplex papers. Its share price closed at Tk 156.70 per share on the trading floor of the DSE on Wednesday.
Incorporated in 1977, the company was listed on the stock exchanges in 1985. Earlier in August this year, Sonali Paper and Board extended its manufacturing line by starting the production of aluminum foil paper boxes.
