Beach Hatchery, a publicly listed agro-based firm, has announced a 10% cash dividend for its general shareholders for the fiscal year 2023-24, marking the highest payout in years. The company posted earnings per share of Tk2.03, which is 118% higher compared to the previous year. Despite the dividend declaration, the company’s share price fell by 2.63%, closing at Tk96.20 on November 27, 2024. The dividend will exclude sponsors and directors, who hold 34.97% of the company’s shares.
The company has scheduled its Annual General Meeting (AGM) for December 31, 2024, to approve the dividend and financial statement, with the record date set for December 15. In its July-September 2024 quarter, Beach Hatchery reported a 174% increase in earnings per share, reaching Tk0.85, along with a net asset value per share of Tk13.33. The company resumed operations in June 2021 after relocating its business to Mymensingh following land acquisition in Teknaf.