E.B. Creasy & Co. PLC, has declared a whopping 60% dividend payout, from the distributable profits of the company for FY2020/21.
This is a huge 456% increase over the Company’s dividend pay out during FY 2019/20 and comes on the back of E. B. Creasy & Co. recording huge YoY gains in profit before tax. Thus, the Board of Directors of the Company have recommended the payment of a First and final dividend of Rs. 1.00 per share for the year ended March 31, 2021, which amounts to Rs 253.5 million. A company spokesperson said, “We are pleased to reward shareholders with this handsome dividend payout. This was made possible by the improved turnover and healthy profits the company witnessed during the past financial year, despite numerous challenges. The consolidated turnover of E B Creasy touched Rs. 13.8 billion for FY20/21 compared to Rs. 11.2 billion recorded in the previous year. “We were also delivered resilient performance through increased revenue in the healthcare and food ingredients sectors, supported by the strong distribution network we enjoy through our subsidiary, Darley Butler & Co. Ltd. Our steel wire manufacturing operation too performed remarkably during the year under review.
The Company and the Group concluded the year with profits before tax of Rs.511 million and Rs.832 million, recording a year-on-year (YoY) increase of 352% and 327%,” he said.
During the year, E. B. Creasy & Co. PLC also carried out a subdivision of the Company’s issued ordinary shares on the basis of subdividing every One existing issued ordinary share into 100 issued ordinary shares, thereby increasing the number of shares of the Company from 2,535,458 to 253,545,800 shares.
This move was made by the Company’s Board of Directors to reward long time shareholders, while also improving the Company’s liquidity and market capitalization.