Ibn Sina Pharma declares 63% cash dividend

The Ibn Sina Pharmaceutical Industry has announced a 63 percent cash dividend for the financial year that ended on June 30 this year, marking its highest payout in seven years.

The company's net profit surged 10 percent year-on-year to Tk 67.04 crore, up from Tk 60.55 crore the previous year.

Ibn Sina's consolidated earnings per share (EPS) was Tk 21.46 as of June 30 compared to Tk 19.38 the year prior, according to a disclosure on the Dhaka Stock Exchange (DSE).

The company's consolidated net asset value per share stood at Tk 111.94 in financial year 2023-24 while its net operating cash flow per share was Tk 12.48.

Founded in 1983, Ibn Sina is a leading player in the local pharmaceutical sector, producing a wide range of pharmaceuticals, including herbal and Unani medicine.

But despite registering higher earnings and paying out attractive dividends, the drug maker's shares dropped by 4.99 percent to Tk 329.40 at the DSE yesterday.