IBN Sina Pharmaceutical shares experienced a 4.ninety 9% decline at this time (3 October) on the Dhaka Inventory Exchange (DSE), despite the announcement of a account dividend payout by the drugmaker.
Market insiders talked about investors seemed to react to broader market pressures, overshadowing the apparent news of the dividend.
On the day, its part designate dropped by Tk17.3, closing at Tk329.40, down from Tk346.70 in the outdated session.
In a morning announcement prior to the launch of trading, IBN Sina Pharma disclosed thru the DSE web situation that its board of directors had urged a 63% cash dividend for shareholders for the fiscal 365 days 2023-24.
Per a company legit, this marks the supreme payout in the company’s history, surpassing the outdated account of a 60% cash dividend in FY23.
To salvage shareholder recognition of the dividend payout and the annual audited monetary statements, IBN Sina Pharma will protect its annual common assembly (AGM) on 24 November. The corporate has build 27 October because the account date, determining shareholder eligibility for every the AGM and the dividend.
The corporate used to be listed in 1989, however for the first four consecutive years, it did not divulge any dividends to its shareholders. Its lowest dividend payout came in 1993 when it declared a modest 4% cash dividend, per the company’s web situation.
In the final fiscal 365 days, IBN Sina Pharma reported an 11% affect larger in consolidated earnings per part (EPS), reaching Tk21.46. The corporate’s salvage revenue surged to Tk67 crore, marking a account high, per sources. At the quit of FY24, its consolidated salvage asset worth used to be Tk111.94, up from Tk96.68 a 365 days ago.
Based mostly in 1983, IBN Sina Pharma is one among essentially the major gamers in Bangladesh’s pharmaceutical exchange, identified for producing a various fluctuate of pharmaceutical products. Its manufacturing services are positioned in Gazipur, with two flowers – one for prescribed tablets and but any other for natural medicines – each outfitted with cutting-edge work expertise.
In 2023, IBN Sina Pharma announced an investment of Tk10 crore in its active pharmaceutical substances (API) project, specifically for the acquisition of capital machinery at its facility in Munshiganj.
Of the total shares of the company, IBN Sina Belief owns 44.30%, ICB Unit Fund holds 8.19%, and common investors protect 32.54%.
