After his business empire’s brand switch from Distilleries Company to Melstacorp and share ownership restructuring carried out in 2 years Sri Lankan Liquor Baron and Billionaire Harry Jayawardena controlled conglomerate Melstacorp alone will earn a dividend income of over Rs. 2.8 billion from Distilleries Company of Sri Lanka (DCSL) for the Financial Year 2017/2018.

DCSL on Tuesday (21^st August 2018) announced that company will pay a first and final dividend of 67 cents per share for all shareholders as at 1^st October 2018 which will be paid on 8^th October 2018 for the financial year 2017/2018. The latest financials of DCSL notes that Melstacorp alone own over 4.22 billion (Over 91%) ordinary voting shares of DCSL, whilst Harry Jayawardena controlled Milford Exports having 147.52 million ordinary voting shares and Lanka Milk Foods having 44.99 million ordinary voting shares of DCSL as at 30^th June 2018.

Melstacorp PLC, previously known as Melstacorp Limited (the “Company”) is a quoted public limited

liability company incorporated and domiciled in Sri Lanka. The company has been registered under the Companies Act No. 17 of 1982 and re-registered under the Companies Act No. 07 of 2007. 

Melstacorp PLC was originally formed as The Beruwala Distillery (Private) Limited in 1995 and was part of DCSL. On 21 January 2011, name of Beruwala Distillery (Private) Limited was replaced with the name of

Melstacorp (Private) Limited and the Company changed its status to a Public Company with effect from 10 August 2011. Afterwards key business sector subsidiary companies of DCSL group were transferred to the Company between 2010 and 2015. Later from Harry Jayawardena’s brand switch and restructuring of Group, in 2016 through a 180 degree share swap 'Melstacorp became the holding company of DCSL group. After the share swap Melstacorp’s Voting Ordinary Shares were listed in Colombo Stock Exchange (CSE) on 30 December 2016. Harry Jayawardena is the Chairman of the Melstacorp PLC.

- Reporting by Devendra Francis