Himalayan Distillery Limited Approves 171 % Dividend through its 19th AGM; provides bumper harvest for its shareholders

Mon, Dec 23, 2019 1:20 AM on AGM/Special AGM, Latest,
Himalayan...

The 19th Annual General Meeting of Himalayan Distilleries Ltd. (HDL), held in Birgunj on 17th December 2019, chaired by Mr. Akhileshwor Prasad Singh has approved a final dividend of 102.63% (cash dividend of 52.63% plus bonus shares of 50%) for the financial year ended 16th July 2019. With the interim dividend of 68.42% declared earlier, the total dividend for FY 2018-19 of 171.05% is the highest dividend declared by any publicly listed company in Nepal, other than that of a multinational.

HDL is the leading alco-beverages company in Nepal established 19 years ago with state-of-the-art technology and world-class blenders with a family blending legacy of more than 50 years. It’s popular brand, Golden Oak, is the only high quality liquor brand in Nepal to have sold more than 1 million cases per annum. HDL provides direct employment to more than 300 people at its factory. It has also installed power co-generation and best-in-class effluent treatment systems.

HDL clocked Operating Revenue of Rs. 6288 million in FY 2018-19, a growth of 23% over the previous year. Likewise, Net Profit for the year increased by 82.65 % to Rs. 537 million. The company’s CAGR of Operating Revenue and Net Profit over the last 5 year’s are  15.87% and 45.90 %, respectively.