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Berger Paints Recommends 400% Cash Dividend

Industry: Building Material, Paint
Company: Berger Paints Bangladesh Limited
Company Intelligence Tag: Business Insights

Berger Paints Bangladesh, the country’s top coating producer, has recommended a 400% cash dividend for the fiscal year ending March 2023. The company’s consolidated profit increased by 4% year-on-year, reaching Tk301 crore. Its consolidated earnings per share also rose to Tk64.91 compared to Tk62.68 the previous year. The company’s solo net profit grew by 5% to Tk293 crore.

Despite achieving higher revenue, Berger Paints faced challenges due to expensive raw materials and the devaluation of the local currency. The record date for dividend eligibility has been set for 26 June 2023, with final approval to be obtained during the annual general meeting scheduled for 22 August. As of April 2023, sponsors and directors collectively held 95% of the company’s shares. Berger Paints Bangladesh, a market leader, is a subsidiary of a UK-based parent company and has been listed on the stock exchanges since 2006. The company’s share price stood at Tk1,800 at the Dhaka Stock Exchange.

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