Business Desk :
UK-based multinational company Reckitt Benckiser Bangladesh declared a 550% cash dividend to its shareholders for the calendar year 2023, the a lowest in a decade.
In 2021, it had paid the highest ever 1,650% cash dividend in its history. One year later, its cash dividend payout dropped to 980%.
Last year the company declared a lower dividend, despite achieving more than 24% year-on-year growth in profit.
In 2023, Reckitt Benckiser Bangladesh’s earnings per share jumped to Tk173.65 from Tk139.50 a year ago, according to its earnings disclosure.
The will distribute 32% profit as dividend to its shareholders for the last year.
The company successfully reduced administrative and marketing expenses significantly to maintain low operating cost, thereby contributing to the growth in its profit.
Additionally, it managed to partially offset these costs by increasing the prices of its products, according to its financial statement.
To approve the audited financial statement and the dividend, the company will hold annual general meeting on 28 May and the record date is 25 April.
Reckitt Benckiser Bangladesh had seen an acceleration in its business growth after the Covid outbreak when the use of hygiene products sprang up in the country on concerns for the spread of Coronavirus.
