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.