Sri Lanka’s one of the oldest conglomerates Hayleys PLC founded by British Charles P Hayley but now owned by Sri Lanka Billionaire Dhammika Perera will generate a dividend income of over Rs. 189 million this April 17th 2019 as dividend income to Perera’s coffers.

Hayleys PLC recently announced (29th March 2019) a dividend of Rs. 5 per voting share as an interim dividend that is not liable to 14% withholding tax for the Financial Year 2018/2019 that is to be paid by 17th April 2019 for every shareholder considering the shareholding as at 9th April 2019.

Billionaire Dhammika Perera controls over 50.44% ownership of Hayleys being the single largest shareholder of the over 160 years old Sri Lankan conglomerate with over 37.82 million shares followed by Trustees of the D.S.Jayasundera Trust with 8.69 million shares, Employees Provident Fund with 3.77 million shares and LOLC Holdings PLC with 1.70 million shares as at 31st December 2018 financials.

Dhammika Perera’s entrance into Hayleys’ bulk equity stake buying first began nearly 11 years ago around 2008 and most of Hayleys share parcels were bought at Rs. 117 to Rs. 130 levels by the Billionaire Perera, whilst his 50.44 stake of Hayleys is now valued at over Rs. 6.4 billion at Rs. 170 per share making the current interim dividend as 2.9% return at current market price of the share value.

Hayleys help to generate nearly 3% of Sri Lanka’s export income earnings every year whilst Perera’s buying into Hayleys helped Hayleys PLC to diversify more into locally founded brand Amaya Hotel chain, to control a larger percentage of Sri Lanka’s Aluminium market and to expand the retail business via buying country’s largest retail chain Singer from Global Singer conglomerate that has over 400 outlets across the country.

- Reporting by Devendra Francis