2024-09-05 14:28:26
Walton Hi-Tech Industries Plc, a company listed in the engineering sector in the capital market, has announced the highest ever cash dividend or cash dividend for common investors despite various adverse conditions.
In the financial year ended on June 30, 2024, the profit of the company increased by Tk 573.85 crore compared to the previous year. In view of this, the company paid 350 percent cash dividend to common investors for the year under review. That is, Walton’s common investors are getting a dividend of 35 rupees per share, which is the highest so far. Walton had earlier paid 300 percent cash dividend to common investors in FY 2022-23. However, 200 percent cash dividend has been declared for the founders and directors of the company. That is Walton’s founders and directors will get a dividend of 20 rupees per share.
The decision to pay the dividend was taken after reviewing and approving the audited financial report for the financial year 2023-24 at the 40th meeting of the company’s board of directors held on Wednesday (September 4, 2024).
According to the company sources, the 18th Annual General Meeting (AGM) of the company will be held on October 29, 2024 to approve the declared dividend and other matters. The record date for this has been fixed as September 30, 2024.
According to the published report, the company’s operating profit margin has increased as well as financial expenses against sales have decreased in the recently concluded financial year. As a result, the company’s profit for the financial year 2023-24 was Tk 1,356.53 crore. Whereas the profit of the company in the same period of the previous accounting year was Tk 782.68 crore. As such, the company’s profit increased by 573.85 crore taka during the discussion period, a growth of 73.32 percent. In view of this, Walton’s earnings per share (EPS) for the financial year 2023-24 has been Rs 44.78, which was Rs 25.84 in the previous financial year.
Also, net asset value per share (NAVPS) of the company excluding revaluation as on June 30, 2024 increased by 14.73 percent to Tk 277.86 over the previous year. The amount of NAVPS with revaluation at the time of discussion stands at Rs.379.30. Its amount was Rs.343.73 on June 30, 2023.
The company’s net operating cash flow per share (NOCFPS) stood at Rs 56.96 as on June 30, 2024, as against Rs 111.84 at the end of the previous financial year. Basically, the NOCFPS has decreased in the recently concluded financial year as compared to the previous year due to the increase in payments to the government coffers as well as to the suppliers of the institutions. However, sustained sales growth has been achieved during the period under review due to large volume of raw material purchases.
Company sources have informed that despite various adversities, the company’s various financial indicators have also greatly improved due to efficient management of the company reducing operating expenses in various sectors. Besides, the profit also increased at the desired rate in view of the increase in sales of the company due to business expansion in domestic and international markets. The Board expressed satisfaction with the overall business success of the Company and thanked the Management. In addition, Walton authorities expressed strong optimism that the company will be able to maintain the continuity of profit growth in the coming years as in the previous year.