Marico Bangladesh declares 350pc interim cash dividend

Marico Bangladesh has declared a 350 per cent interim cash dividend for the six months ended September this year, despite a decline in profit amid higher raw material costs.

The India-based personal care products manufacturer, whose financial year runs from April to March, reported a nearly 7 per cent year-on-year fall in profit during April-September to Tk 3.24 billion.

Earnings per share (EPS) dropped to Tk 102.82 in the six months from Tk 110.52 in the same period a year earlier, according to the company’s audited financial statements released on Wednesday. However, revenuve rose 4 per cent year-on year to Tk 10.56 billion.

The company had earlier disbursed a 500 per cent interim cash dividend for the April-June quarter of the current financial year.

Marico’s cost of sales increased due to higher input prices, as the company relies heavily on imported raw materials. However, operational efficiency helped it offset some of the cost pressures.

Net operating cash flow per share (NOCFPS), which measures cash generated from operating activities, fell sharply to Tk 58.51 during the six-month period from Tk 110.68 a year earlier, due to higher payment to suppliers.

Meanwhile, net asset value (NAV) per share rose to Tk 94.85 as of September this year from Tk 92.02 a year earlier.

Source: The Business Standard