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Marico declares 200% interim cash dividend

Staff Correspondent
26 Jan 2022 00:00:00 | Update: 26 Jan 2022 00:30:31
Marico declares 200% interim cash dividend

Marico Bangladesh, a fast-moving consumer goods multinational company, declared a 200 per cent cash dividend based on nine months for the April-December period of FY22 after posting around a 21 per cent profit increase during the period.

The company disclosed the information in a filing with the Dhaka Stock Exchange (DSE) on Tuesday. Its record date for entitlement of interim cash dividend is fixed for February 15.

There was no price limit on the trading of the shares of the company on Tuesday following its corporate declaration. Its share price increased slightly 0.24 per cent to Tk 2,339.

The company’s revenue stood at Tk 334 crore and net profit at Tk 86.2 crore for the third quarter (April-December) of FY22.

During the quarter the revenue of the company grew by 1 7.3 per cent while profitability grew by 20.6 per cent compared to the same period of the previous year.

“The growth in revenue was driven by overall volume growth through a healthy mix in the portfolio. The performance is led by the growth in the coconut oil, hair oils, shampoo and baby care portfolios. It launched ‘Parachute Just For Baby Shampoo’ during the last quarter extending its comprehensive range of baby care products, said the company said in a statement.

It hopes that there will be no supply chain disruptions with lock-downs during the ongoing Omicron wave.

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