IBN Sina Pharma declares highest cash dividend in 13 years
Stocks
IBN Sina Pharmaceutical Industry Ltd – an enterprise of the IBN Sina Trust — has recommended a 60% cash dividend for the 2021-22 fiscal year, which is the highest since fiscal 2008-09.
In fiscal 2020-21, the drugmaker paid a 47% cash dividend to its shareholders.
In FY22, the company's consolidated earnings per share (EPS) increased 24% to Tk19.39, from Tk15.66 in FY21, according to its stock exchange filing on Tuesday.
The medicine manufacturer will hold an annual general meeting (AGM) on 30 October through a digital platform. It has fixed 29 September as the record date to identify the beneficiaries of the dividends.
According to the disclosure, the board of the company has decided to transfer a portion of the net assets of its natural medicine division to IBN Sina Natural Medicine Ltd, a subsidiary of IBN Sina Pharma, subject to the approval of the shareholders.
The aggregated value of the net assets as on 30 June 2022 is Tk20.81 crore.
To transfer the asset, the board has approved the "Vendors Agreement" executed between the two parties.
The board of directors of IBN Sina Pharma has also approved the purchase of 27 decimal land in Cox's Bazar at Tk2.30 crore, excluding registration and other related expenses, which will be used for constructing a sales depot and a training centre.
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