Heidelberg Cement Bangladesh Announces 25% Cash Dividend for 2023

Heidelberg Cement Bangladesh has declared a 25% cash dividend for its shareholders for the fiscal year 2023, marking a significant return despite the previous year's losses.

Heidelberg Cement Bangladesh Announces 25% Cash Dividend for 2023
Photo by Masba Molla / Unsplash

In a recent board meeting held on March 6, 2023, Heidelberg Cement Bangladesh has officially announced a 25% cash dividend to its shareholders for the year 2023. This decision comes as a notable development, especially considering the company had paid a 10% cash dividend for 2022 amidst a reported loss of Tk23 crore.

The dividend declaration aims to secure shareholder approval during the annual general meeting scheduled for May 8, with the record date set for April 2. This move reflects the company's robust financial performance over the past year, with earnings per share standing at Tk8.13 and a net asset value per share of Tk67.20.

Despite the challenges faced in the previous fiscal year, Heidelberg Cement's strategic decisions and operational efficiency have led to a commendable recovery. The company's shares closed at Tk262.10 each at the Dhaka bourse on the announcement day, experiencing a slight decrease of 2.75% from the previous session.

This dividend payout is seen as a positive signal to the market, indicating Heidelberg Cement Bangladesh's strong position and commitment to delivering value to its shareholders. It also highlights the resilience and potential growth of the cement industry in Bangladesh, encouraging investors and stakeholders to maintain their confidence in the sector.