LafargeHolcim declares its highest-ever dividend
LafargeHolcim Bangladesh Ltd has declared a 48 per cent cash dividend for its shareholders for 2022, the highest ever.
The board of directors of the local operations of the multinational cement manufacturer recommended a 15 per cent cash dividend for the October-December period of the financial year, according to a press release.
It provided a 25 per cent cash dividend in 2021 and 10 per cent in the previous seven years each.
The record dividend came after LafargeHolcim's net profit rose 14 per cent year-on-year to Tk 445 crore last year although 2022 was tough for the whole cement industry in Bangladesh owing to the business slowdown caused by higher inflation and escalated prices of raw materials, driven by the Russia-Ukraine war.
LafargeHolcim's net sales increased 15 per cent to Tk 2,359 crore.
The company launched a new sustainable product "Supercrete Plus" last year, which ensured growth in its aggregated business, said Iqbal Chowdhury, chief executive officer of LafargeHolcim Bangladesh.
The company also widened its digital footprint and gained traction in new business channels, which helped book the profits, he said.
LafargeHolcim continued advancing as a leader in sustainability with a waste management initiative towards the goal of becoming a carbon-neutral company by 2050, Chowdhury said.
The cement maker looks forward to continuing introducing new innovative and sustainable building material solutions for the Bangladesh market in 2023, he said.
"This will further differentiate us in the market."
Shares of LafargeHolcim Bangladesh were unchanged at Tk 64.8 on the Dhaka Stock Exchange yesterday.