Shareholders of Walton Hi-Tech Industries PLC approved a 180% cash dividend and a 10% stock dividend for the financial year 2025–26 at the company's 20th annual general meeting (AGM).
The meeting was held online yesterday (15 October), with SM Shamsul Alam, chairman of Walton Hi-Tech, presiding, according to the press release.
Shareholders expressed satisfaction with the dividend payout despite continuing challenges in the global and domestic economies. They also welcomed the company's initiatives in lithium-ion battery manufacturing, renewable energy, solar power expansion and investment in technology-driven industries.
SM Ashraful Alam, vice-chairman; SM Mahbubul Alam, managing director; and directors SM Nurul Alam Rezvi, SM Rezaul Alam, SM Monjurul Alam Ovee, Tahmina Afrose, Raisa Sigma Hima, Sabiha Jarin Arona, Nishat Tasnim Shuchi, and Shadman Sakib Dipro attended virtually.
Independent directors Professor M Sadiqul Islam, PhD, FCMA; Akhter Matin Choudhury, FCA, FCS; and Johora Bibi also attended.
Other participants included Md Ziaul Alam, FCA, ACA (ICAEW), additional managing director and chief financial officer; Abu Nafis, additional managing director and head of internal audit and compliance; the statutory auditor; the corporate governance compliance auditor; representatives of regulatory authorities; senior company officials; and institutional and general shareholders.
Md Rafiqul Islam FCS, deputy managing director and company secretary, moderated the meeting.
In his welcome address, SM Shamsul Alam said, "Backed by a strong foundation of corporate governance, we have been able to achieve sound financial results despite various challenges in the global and domestic economies. As part of our continued commitment to protecting shareholders' interests, the Board of Directors recommended a 180% cash dividend and 10% stock dividend. We will continue working to deliver stronger financial performance and create greater value for our investors in the years ahead."
He thanked shareholders, stakeholders, and others for joining the meeting virtually and helping make it a success.
SM Mahbubul Alam presented the annual report for FY2025–26, highlighting improvements in key financial indicators, business performance and plans for future growth.
"The 2025–26 financial year was a period of significant change and challenges for both the global and Bangladesh economies. Despite these headwinds, Walton maintained business resilience and growth. Effective cost management, long-term business strategies, innovation and our ability to adapt quickly to changing market dynamics played a vital role in this achievement," he said.
He told investors the company was working to build on its performance, create new opportunities, and lay the foundation for long-term prosperity.
"Since the beginning of our business journey, we have been working to reduce the country's import dependency and strengthen domestic industrial capacity. As part of this vision, during FY2025–26 we made significant progress in our own lithium-ion battery manufacturing project, aimed at reducing dependence on imported batteries," he said.
"Through this project, Walton is set to become the first company in Bangladesh to manufacture high-quality lithium-ion batteries on a large scale. These batteries will be suitable for electric vehicles, laptops, smartphones, and various other electronic devices. They can also be used as residential storage power solutions as an alternative to fuel-powered generators, as well as for industrial energy storage applications."
He said the project could contribute significantly to Bangladesh's green energy transition.
"This is a strategic initiative towards strengthening Bangladesh's technological capability and achieving advanced industrial self-reliance. It will help build the foundation for green energy and environmentally friendly transportation systems in the future, while elevating the reputation of 'Made in Bangladesh' products to a new level. And our investors will be proud partners in this achievement," he said.
Alongside innovation, SM Mahbubul Alam said Walton remained committed to environmental conservation and sustainable development.
He said the company had installed what it described as Bangladesh's largest floating solar power plant at its manufacturing facility. During FY2025–26, Walton's solar generation capacity increased to approximately 26 megawatts, meeting a significant portion of its own electricity demand.
"Work is underway to increase our renewable energy capacity to 50 MW during FY2026–27, further expanding Walton's contribution to renewable energy. Walton's progress in this sector is a matter of pride for all of us and reflects our strong commitment to environmentally responsible and sustainable industrialisation," he said.
On international expansion, the managing director said Walton is pursuing its ambition to become one of the world's leading electronics brands.
He said the company had obtained international certifications, including CE, UL, NOM, BIS and TÜV, and expanded exports and business operations to 64 countries.
"Our export portfolio is also expanding with the addition of new products, including lifts and cables. Our green technology-driven initiatives will further enhance the international acceptance and competitiveness of Walton products," he added.
Shareholders approved the audited financial statements and audit report for FY2025–26, alongside the cash and stock dividends.
The meeting also approved the Directors' Report, the re-election of directors, the reappointment of the managing director, the reappointment of the statutory auditor and corporate governance compliance auditor, and the appointment of Johora Bibi as an independent director, among other agenda items.
Shareholders also approved transactions with the company's related party, Walton Plaza, during FY2025–26.