Berger Paints Bangladesh Limited has declared a 375% cash dividend for its shareholders for fiscal 2020-21.
Different aspects of the company's progress were also highlighted during its 48th annual general meeting (AGM) which was held on a virtual platform recently, read a press release.
The company achieved 2.8% revenue growth and around 6% volume growth until March this year. It also achieved a 12.3% growth in income before tax.
During the period, the cost of sales reduced from 61.5% to 60.2% of net sales. Despite higher sales in fiscal 2020-21, total expenses both in absolute value and as a percentage of net sales reduced from the previous year, resulting in higher profitability in that fiscal year.
Gerald K Adams, chairman at Berger Paints Bangladesh Limited, who presided over the meeting presented the directors' report, auditors' report, and audited financial statements till March this year.
Rupali Chowdhury, managing director, along with other directors Anil Bhalla, Anis A Khan, Masud Khan, Rishma Kaur, Kanwardip Singh Dhingra, Sunil Sharma, Parveen Mahmud, Abhijit Roy, and Sazzad Rahim Chowdhury also attended the meeting.
Earlier, Berger Paints Bangladesh Limited was awarded for being the top VAT payer for fiscal 2018-2019 under the manufacturing category. The company also received ICMAB Best Corporate Award 2019 in the category of multinational manufacturing industries.
Berger Paints was also awarded the Best Paint Brand in the paint category for 10th consecutive times by Bangladesh Brand Forum (BBF) in partnership with Nielsen Bangladesh.