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Walton declares attractive cash dividend

by Tech and Teen September 8, 2024
written by Tech and Teen September 8, 2024
Walton declares attractive cash dividend

Walton Hi-Tech Industries PLC, country’s leading electronics’ company listed in capital market, declared an attractive 350% cash dividend to its general shareholders for the financial year 2023-24 amidst the adverse situation. General shareholders will get Tk 35 cash dividend per share.

Its sponsors and directors decided to get a 200% cash dividend for the last financial year. That means, sponsors and directors of the company will get Tk 20 cash dividend per share.

These decisions came out after review and approved the audited financial statement for the year ended 30 June, 2024 by the board of directors in its 40th board meeting held on Wednesday (September 4, 2024).

To approve the dividend and financial statement, Walton calls the annual general meeting on 29 October, 2024 and the record date is 30 September, 2024.

According to its disclosure, the operating profit margin of the company improved while the finance cost decreased in the FY 2023-24 compared to the last fiscal. That’s why, net profit after tax of the company for the year ended 30 June, 2024 increased by Tk 573.85 crore to Tk 1356.53 crore.

As a result, Earnings Per Share (EPS) of the company stood at Tk 44.78 for the year ended 30 June, 2024, which was Tk 25.84 in the last financial year.

The company has reported Net Asset Value Per Share (NAVPS) of Tk 379.30 (with revaluation), Tk 277.86 (without revaluation) for the year ended on June 30, 2024, as against Tk 343.73 (with revaluation) and Tk 242.18 (without revaluation) respectively for the same period of the previous year.

Net Operating Cash Flows Per Share (NOCFPS) of the company stood at Tk 56.96 for the year ended 30 June, 2024 compared to Tk 111.84 in the previous year. The NOCFPS was decreased due to increased payments to suppliers and the government exchequer. These payments were necessary due to higher material purchases and sustainable sales growth.

Company sources said, efficient management of the company was able to reduce operating cost in various sectors despite various adverse situation. As a result, various financial indicators of the company have also improved greatly. Also, the company’s profit increased at the expected rate due to the increase in sales following expansion of business in domestic and international markets.
The board of directors expressed satisfaction with the overall business success of the company and thanked the management.

Walton management expressed the hope that the company will be able to maintain the continuity of profit growth in the coming years. Ends/

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