STAR BUSINESS REPORT

LafargeHolcim Bangladesh Ltd has declared a 48 per cent cash dividend for its shareholders for 2022, the highest ever.

The board of directors of the local operations of the multinational cement manufacturer recommended a 15 per cent cash dividend for the October-December period of the financial year, according to a press release.

It provided a 25 per cent cash dividend in 2021 and 10 per cent in the previous seven years each.

The record dividend came after LafargeHolcim’s net profit rose 14 per cent year-on-year to Tk 445 crore last year although 2022 was tough for the whole cement industry in Bangladesh owing to the business slowdown caused by higher inflation and escalated prices of raw materials, driven by the Russia-Ukraine war.

LafargeHolcim’s net sales increased 15 per cent to Tk 2,359 crore.