Walton Hi-Tech Industries upgraded to ‘A’ category in capital market

Electronics giant Walton Hi-Tech Industries Limited, which is listed in the country’s capital market, has been upgraded to ‘A’ category.

Shares of the company will be trader under ‘A’ category from Monday (January 18). 

Dhaka Stock Exchange (DSE) sources said this on Sunday (January 18).

According to the sources, Walton Hi-Tech Industries Limited has been trading in the ‘N’ category of the new company as per the rules since it was listed in the stock exchange. This time, it has secured place in ‘A’ category. The category of the company has been upgraded through paying dividends to the shareholders. After reviewing the financial statements for the financial year ended June 30, 2020, the Board of Directors of the company declared a 200 percent cash dividend for the shareholders which was approved at the Annual General Meeting (AGM) with the consent of the general shareholders. The dividends declared later have been distributed among the shareholders. At the meeting, the shareholders expressed satisfaction over the performance of Walton Hi-Tech Industries Limited and hoped that this trend would continue in the future.

Earlier, Walton Hi-Tech Industries Limited achieved a long-term ‘AAA’ rating and a short-term ‘ST-1’ rating issued by the Emerging Credit Rating Limited (ECRL) on the basis of a review of the first quarter unaudited financial statements and other data statements from July 1 to September 30 of the current financial year and till 30 June of 2020. With this, the company achieved the highest credit rating ‘AAA’ for 5 years in a row.

‘AAA’ is the highest credit rating of an organisation, which indicates the lowest risk in business and financial transactions with the highest ability to meet the financial commitments of the organisation concerned.

Meanwhile, Walton Hi-Tech Industries Limited has topped the list in terms of market capitalisation in 2020.