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Renata declares 140pc dividend amid hefty profits

Staff Correspondent | Published: 14:15, Oct 27,2020

 
 

Renata Limited has declared 140 per cent dividend for the year ended on June 30, 2020 which is only 30.9 per cent of its profits during the year.

The board of directors at a meeting on Monday recommended the dividends and approved the financial statement for the financial year 2019-20.

Of the total 140 per cent dividends declared for 2020, 130 per cent is cash dividend and 10 per cent stock dividend.

The consolidated profits of Renata reached to Tk 401.2 crore in FY20 against Tk 375.6 crore in the previous year.

Thus, earnings per share of the company increased to Tk 45.29 in FY20 from that of Tk 42.39 in the previous year.

The company will hold an annual general meeting on December 19, 2020 to get shareholders’ approval regarding dividend and financial statement.

The record date for the corporate declaration has been set on November 16, 2020.

Consolidated net asset value per share of Tk 245.65 and consolidated NOCFPS of Tk 52.89 for the year ended on June 30, 2020 as against Tk 209.91 and Tk 47.76 respectively for the same period of the previous year.

Renata Limited (formerly Pfizer Limited) was one of the leading and fastest growing pharmaceutical and animal health product companies in Bangladesh, Renata officials said.

The company started its operations in 1972 as Pfizer (Bangladesh) Limited. In 1993, Pfizer transferred the ownership of its Bangladesh operations to local shareholders and the name of the company was changed to Renata Limited, they said.

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