Linde Bangladesh Limited, the leading industrial and medical gas producer in the country has recommended a 550% cash dividend for its shareholders for 2021 – the highest in the last seven years.
The multinational company will hold an annual general meeting (AGM) via a virtual platform on 12 May to secure approval from shareholders regarding the proposed dividend. The record date to determine investors for the AGM will be 31 March.
Despite the higher dividend declaration, its share price fell 1.98% to close at Tk1,551.70 each on the Dhaka Stock Exchange on Sunday.
Last year, its earnings per share jumped to Tk80.34, which was Tk77.70 in 2020, due to an increase in consumption of industrial gas and medical oxygen.
Its net asset value per share increased to Tk395.55 at the end of December, from Tk355.75 a year ago.
In the first nine months of 2021, its revenue increased by 12% to Tk375.32 crore compared to the same period of the previous year.
This resulted in a 24% jump in profits to Tk90.41 crore over the same period, according to the quarterly financial report.