BAT Bangladesh posts record profits

The company made a net profit of Tk1,787.4 crore during the year –  resulting in a growth of 19.4% over the previous year.

British American Tobacco (BAT) Bangladesh, a publicly-traded cigarette manufacturer, has defied global economic hurdles to report impressive earnings for 2022. The company recorded a net profit of Tk1,787.4 crore, marking a 19.4% increase from the previous year, according to exchange websites. The fourth quarter saw a particularly strong growth, with a 36% increase in profitability compared to the same quarter in 2021.

During a board meeting held on Wednesday, the company’s management also declared a final cash dividend of 100% worth Tk540 crore or Tk10 per share, in addition to the interim dividend of 100% it had previously announced. This year’s cash dividend is an improvement over the 275% disbursed in the previous year.

Investors who hold shares in the company as of March 2 will be eligible for the final portion of the cash dividend. The annual general meeting is scheduled for March 29 and will be conducted virtually.

As of now, the company’s shares are primarily owned by its sponsors and directors, who hold 72.91%, while the government holds 0.64%, institutional investors 12.76%, foreign investors 6.39%, and general investors 7.3%.

BAT Bangladesh was first listed on the Dhaka Stock Exchange in 1977 and on the Chittagong Stock Exchange in 1996.