Daily Mirror (Sri Lanka)

E.B. Creasy declares 60% dividend for 2021; pays out Rs.253.5mn


Top Sri Lankan conglomera­te E.B. Creasy & Co. PLC has declared a whopping 60 percent dividend payout, from the distributa­ble profits of the company for FY2020/21.

This is a huge 456 percent increase over the company’s dividend payout 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 has 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.

Discussing the significan­t dividend payout, a company spokespers­on said, “We are pleased to reward the 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. In addition to the noteworthy contributi­on by our FMCG sector, we were also able to deliver 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 percent and 327 percent, respective­ly.”

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 capitalisa­tion.

E.B. Creasy & Co. PLC is one of Sri Lanka’s oldest continuous­ly operating companies. Founded in 1878, the company has adapted to new technologi­es and trends, growing into a respected conglomera­te that is presently active in nine business sectors and owns over 30 instantly recognisab­le brands. Today, the

E.B. Creasy & Co. group is involved in sectors ranging from homecare to personal care, healthcare, foods, energy and lighting, logistics, automotive, home and industrial and renewable energy.

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