On March 4, it was announced that Tapan Chowdhury, the Managing Director of Square Pharmaceuticals, acquired 1.5 million shares from the stock market. The Dhaka Stock Exchange website confirmed the successful completion of this transaction today.
Additionally, Anjan Chowdhury, a director at Square Pharmaceuticals, also purchased 1.5 million shares at market value, with his announcement made on February 18. A subsequent update on March 10 from the Dhaka Stock Exchange indicated that this share acquisition had been finalized.
Historically, it has been observed that when the company’s share price declines, directors often take the initiative to buy shares from the market. This trend appears to continue, as a director has recently announced a share purchase for similar reasons, according to sources within the company. However, following today’s announcement, Square Pharma’s share price experienced a 0.5 percent drop this morning.
Square Pharma stands as the foremost pharmaceutical company in the nation. It was established by the late Samson H Chowdhury along with a group of his associates. Presently, the management of the company is in the hands of his four children.
In the last quarter of October to December, Square Pharmaceuticals reported a profit of Tk 660 crore. This marks an increase of Tk 135 crore, or 26 percent, compared to the same quarter the previous year. The company’s revenue grew by approximately 13 percent during this period, reaching Tk 1,997 crore, up from Tk 1,774 crore in the same timeframe of 2023. This reflects a year-on-year business growth of Tk 223 crore.
Over the past few years, Square Pharma has consistently provided substantial dividends to its shareholders. For the fiscal year 2023-24, which concluded in June, the company distributed a cash dividend of 110 percent to its shareholders. This achievement marks the third consecutive year in which the company has offered dividends exceeding 100 percent. Previously, shareholders received a 105 percent cash dividend in 2023 and 100 percent in 2022, with the latest increase to 110 percent.
