Taufika Foods and Lovello Ice-cream PLC posted a profit of Tk 12.18 crore for the year ended on June 30, 2024.

The profit figure was 15 percent higher than that of the previous year's Tk 10.53 crore.  

The ice cream makers' board has recommended a 20 percent dividend, comprising 10 percent cash and 10 percent stock, according to a disclosure on the Dhaka Stock Exchange (DSE) website.

Lovello pointed out that the stock dividend is intended to boost its capital adequacy by converting retained earnings into paid-up capital.

The dividend has been declared from accumulated profit, Lovello said in the disclosure.

Its earnings per share stood at Tk 1.43 for the year.

Shares of Lovello were up 4.56 percent at Tk 98.50 yesterday on the DSE.