Linde Bangladesh’s shares surged over 43% following the announcement of a record-high interim cash dividend of 1,540%, equating to Tk154 per share, based on its January to October 2023 financials. Despite a 66% drop in profits during this period, the leading gas producer proposed the highest dividend in its history, prioritizing shareholder returns ahead of its planned sale of the welding electrodes business to ESAB Group.
The announcement led to a significant increase in Linde’s share price, closing at Tk1409.40 each on the Dhaka Stock Exchange. The dividend payout, totaling Tk234 crore, will be distributed to shareholders with a record date set for 9 July. The company’s EPS fell from Tk50.99 to Tk17.24 due to the demerger of the welding business, reduced sales, higher raw material costs, and forex volatility.