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Walton declares 300% cash dividend despite profit dropped over 35%

Its sponsors and directors decided to get a 90% cash dividend for the last fiscal

Country’s electronic manufacturing giant Walton High Tech declared a 300% cash dividend to its general shareholders for the fiscal year 2022-23 despite the company suffering a 35% loss in profit than the previous year.

Its sponsors and directors decided to get a 90% cash dividend for the last fiscal.

These decisions came out in the board meeting that was held on Thursday.

According to its disclosure, Walton’s earnings per share was Tk25.84 in FY 2022-23, which was Tk40.16 a year ago.

The company said, global economic pressure and currency fluctuation eats its profit in the last fiscal year. It incurred a loss over Tk450 crore only for taka devaluation.

To approve the dividend and financial statement, Walton calls the annual general meeting on 29 October and the record date is 2 October.

 

Source: The Business Standard

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