LafargeHolcim approves 25% cash dividend

LafargeHolcim Bangladesh Limited (LHBL) approved a 25% cash dividend for the year that ended on 31 December 2021.

The company's shareholders approved the dividend at the 24th annual general meeting (AGM) that was held on Monday via a digital platform, reads a press statement.

The dividend was proposed by the company's board on 31 January and is its highest dividend payout since its inception in Bangladesh.

LHBL's Chairman Christof Hässig presided over the AGM, where Chief Executive Officer Rajesh K Surana and other board members were present.

In 2021, the cement maker's sales increased by 27% year-on-year to Tk2,053 crore thanks to its aggregates business. However, currently, its aggregate production is suspended as per an order from the High Court.

Its profit jumped 64% to Tk388 crore.

Rajesh K Surana said in the press release that 2021 had been an unprecedented year for everyone with so many external challenges.

"We are happy to deliver another year with record top-line improvement by 27% and net profit improvement by a staggering 64%."

"We are moving into 2022 with the continued strong motivation and firmly on focus to achieve sustainable growth by further expanding our footprints in the building materials space as a unique solution and service provider," he added.