Linde approves record 4,100% cash dividend

Linde Bangladesh Ltd has approved a staggering 4,100 percent cash dividend, the highest disbursement since its listing on the Dhaka Stock Exchange (DSE).

The dividend follows an exceptional financial performance, with the company's profits reaching Tk 631.68 crore as of July 31, 2024 -- a massive 4,596.5 percent increase year-on-year, as stated in its audited interim financial statements.

The company had made a profit of Tk 13.45 crore in the same period last year.

This has led to its earnings per share (EPS) to reach Tk 415.08 this time around whereas it was Tk 8.84 in the corresponding period last year.

The increase in the EPS is attributed primarily to a capital gain from the sale of shares of its subsidiary, Linde Industries Pvt Ltd, said the company in a statement on the DSE website yesterday.

The company made a profit of Tk 631.68 crore as of July 31, 2024, which was a massive 4,596.5 percent increase year-on-year

Similarly, net operating cash flow per share (NOCFPS) increased to Tk 13.19 from Tk 8.38, which the company said was driven by enhanced collections from customers.

Linde Bangladesh Ltd, a subsidiary of Linde PLC, has been a key player in Bangladesh's industrial sector for over six decades.

Established in the 1950s, the company operates from three locations -- Tejgaon, Rupganj, and Shitalpur -- and caters to over 35,000 customers nationwide through seven sales centres.

Its production capacity includes 80 tonnes of liquid air separation unit gases per day, which comprises a wide range of products such as liquid and gaseous oxygen, nitrogen, argon, acetylene, and medical oxygen.

Following the dividend announcement, Linde's shares surged 17.83 percent from that on the day before to reach Tk 1,547.30 at the end of trading day at the DSE yesterday.