Electric bulb producer Bangladesh Lamps Limited, widely known as BD Lamps, has reported a 72% growth in profit in the 2021-22 fiscal, riding on higher sales in LED segments and optimisation of operating costs.
Because of this tremendous growth, the company has recommended 20% cash and 7% stock dividends for its shareholders for the last fiscal, as per a disclosure published on the stock exchanges on Wednesday.
The company said the stock dividend was declared to meet the regulatory requirement and the fund will be utilised for better working capital management.
According to the company's financials, its earnings per share (EPS) increased to Tk8.78, from Tk5.10 in the previous fiscal year.
Usually, the company paid cash dividends in recent years. The last time it declared stock dividends was in 2011 when it paid a 30% stock dividend.
For FY21 fiscal, it paid a 20% cash dividend.
The company's annual general meeting for FY22 will be held virtually on 19 December. The record date has been fixed on 10 November.
BD Lamps, which got listed on the stock exchanges in 1981, manufactures Philips lighting products under an exclusive licensing agreement with Philips Electronics NV Holland.
It also manufactures electric bulbs, CFL, tube lights, and other lighting products under the Transtec brand.