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Walton Hi-Tech Industries Limited, a local electronics giant, has declared 250 per cent cash dividend for general investors and 170 per cent cash dividend for its sponsor-directors for the 2020-21 financial year.
The board of directors of the company approved the dividend at a meeting on Tuesday.
The publicly traded company will hold its annual general meeting (AGM) on September 29 to get shareholders’ approval for financial statements and dividend. The record date for entitlement of cash dividend has been fixed on September 5.
Walton’s earnings per share (EPS) stood at Tk 54.21 in FY21, against Tk 24.21 of the previous year. Besides, its net asset value per share was at Tk 208 on June 30, 2021.
The board also recommended to change the company’s name as Walton Hi-Tech Industries PLC replacing the existing name.
The closing price for each of Walton’s shares was Tk 1,474 during Tuesday’s session on Dhaka bourse.
The company made its debut on the stock exchange on September 23, 2020. After getting listed, its market capitalisation reached Tk 44,088.19 crore.
The dearth of floating shares benefitted Walton to reach the landmark within a short time, said stock market analysts preferring anonymity.
As per the bidding price, Walton issued 2.8 million shares, or only 0.92 per cent of its pre-IPO paid-up capital, to raise Tk 100 crore from the capital market.
The authorized capital of the company is Tk 600 crore, while its paid-up capital is Tk 303 crore.
