Despite the negative impact of the Covid-19 pandemic on the economy, the catastrophe has a silver lining for consumer health and hygiene product businesses.
Reckitt Benckiser, Bangladesh, a subsidiary of the world's leading producer of hygiene products, has recommended 1,400% cash dividend for the financial year 2020 as the company earned record profit, thanks to the boom in disinfectant business.
According to the market analyst, it also the highest-ever dividend payout in the capital market history for an individual company so far.
The company maintained a strong performance in 2020 as customers stocked up on Lysol disinfectant and Dettol soap amid the novel coronavirus fear, said a company insider.
Last year, the company posted earnings per share at Tk156.38, which was 19% higher than the previous year.
For the financial year 2019, the company had paid 1,250% cash dividend to its shareholders.
Among all listed companies in the stock exchange, Reckitt's shares are the most valuable at present.
However, its share price fell by 1.53% to Tk4,613.90 each at the Dhaka Stock Exchange on Thursday.
Of the total shares of the company- Reckitt Benckiser Group PLC holds 82.96%, the Bangladesh government 3.77%, institutional investors 3.75%, foreign investors 3.09%, and general investors hold 6.43%.
Midway News Team
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