Walton approves 250pc cash dividend

The 15th Annual General Meeting (AGM) of Walton Hi-Tech Industries limited (WHIL) was held on virtual platform on Wednesday (29 September, 2021) at 12pm. 

The company's Chairman S M Nurul Alam Rezvi presided over the meeting. Among others,  the company's Vice-Chairman S M Shamsul Alam, Managing Director Golam Murshed, S M Ashraful Alam, S M Mahbubul Alam, S M Rezaul Alam, S M Monjurul Alam Ovee, Tahmina Afrose Tanna, Raisa Sigma Hima, Independent Directors Dr. Ahsan H Mansur, Samsul Alam Mallick, FCA,  Professor Dr. M. Sadiqul Islam, Phd, FCA, Professor Dr. Zakir Hossain Bhuiyan, Phd were present.

Virtually, the company’s Additional Managing Directors Abul Bashar Howlader, Deputy Managing Directors Nazrul Islam Sarker, Amdadul Haque Sarker, Eva Rezwana Nilu, Humayun Kabir and Alamgir Alam Sarker, Chief Financial Officer Md. Omar Faruque Ripon, FCA, Company's Secretary Rafiqul Islam, FCS, Head of Internal Audit Sirajul Islam, FCA, a good number of eligible institutional investors as well as general shareholders and some other higher officials of the company also attended the meeting.

Addressing the meeting, the company’s chairman expressed his sincere gratitude to all concerned for making the Annual General Meeting a success by attending the event.

At the meeting, the managing director presented the company’s future work plans to the shareholders, delivered various comments as well as answered questions to the shareholders.

In the AGM, the shareholders of Walton Hi-Tech Industries Limited has approved the company’s financial statement for the FY 2019-2020. 

In the presence of the shareholders in 15th AGM, the proposed 200 percent cash dividend for the general shareholders and 170 percent cash dividend for sponsors and directors for the financial year 2019-2020 were also being approved.

Along with the dividend, other issues such as the retirement and re-election of the directors of the company, the appointments of M/S Hawladar Yunus & Co. as the company’s Chartered Accountant, M/S Al Muktadir Associates as Corporate Governance Auditor and also the Chartered Secretary and Consultant’s appointment and fixation of their remuneration were being approved.

Under the special agenda, as per the directions of Bangladesh Securities and Exchange Commission, more than 10 percent transaction between Walton Hi-Tech Industries Limited and Walton Plaza, and also the decision to purchase land for construction of the company's iconic tower was approved on the basis of majority of general shareholders.

At the same time, the name of the company was changed to ‘Walton Hitech Industries PLC’ instead of ‘Walton Hitech Industries Limited’ with the consent of the shareholders. 

Expressing satisfaction on the company's overall business performance in the coronavirus pandemic situation, the general investors hoped that company's such performance will be sustained in future.

As of June 30, 2021, Walton Hi-Tech's earnings per share (EPS) was Tk 54.21 for the year ended on June 30, 2021, a 123.91 percent increase from Tk 24.21 a year earlier. Meanwhile, its net asset value stood at Tk 311.59 with revaluation and Tk 208.16 without revaluation.