JMI Syringes approves 30% cash dividend
The company’s earnings per share was Tk4.35 in the fiscal year 2019-20, which was Tk3.1 in the previous fiscal year
The 21st annual general meeting (AGM) of JMI Syringes and Medical Devices Limited, a listed medical equipment company, was held on Tuesday. The meeting approved a 30% cash dividend declared by the company's board of directors for its shareholders.
Apart from the cash dividend, five other agendas were approved at the meeting that was organised virtually due to the novel coronavirus situation.
Nipro Corporation, a world-renowned Japanese company, owns 50.23% of the company.
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The company's earnings per share (EPS) was Tk4.35 in the fiscal year 2019-20, which was Tk3.1 in the previous fiscal year.
The company's net asset value per share (NAVPS) for the fiscal year ended 30 June, 2020 was Tk121.7.
In the fiscal year 2019-20, the company's total sales were Tk197.65 crore, which was Tk20 crore more than that in the previous financial year.
Jabed Iqbal Pathan, chairman of the company, said, "We have been paying 30% cash dividend for the last four years. Bigger targets have been set for the coming years."
JMI Syringes has paid Tk34.9 crore in dividends to shareholders since it was listed on the stock exchange, he said.
The company's Founder and Managing Director Abdur Razzak said, "Despite various obstacles in the past years, the quality of the company's products has been praised at the international level. It was able to achieve the desired goal, leaving behind countries like America and Japan."
"The factory did not close for a day even during the coronavirus crisis. Production has been continued by ensuring the health protection of the workers in accordance with the rules. None of the workers were fired," he said.
He further said, "We are the only company in Bangladesh who are able to produce 'Auto Disable (AD)' syringes used for corona vaccination. As a result, we have already exported 1.5 crore syringes for corona vaccination activities to Indonesia. Export of 26 lakh syringes to Pakistan is under process. Besides, we are discussing exporting syringes to various countries including the United States."
Abdur Razzak also said if the government takes the initiative to buy AD syringes for corona vaccination, his company will prioritise the country and be ready to produce and supply the required syringes.
