COLOMBO, Sri Lanka – 28 August 2026 – Mahaweli Coconut Plantations PLC (CSE: MCP), a prominent entity in Sri Lanka’s agricultural sector, has announced a proposal for a first and final cash dividend of Rs. 3/- (Three Rupees only) per ordinary share for the financial year ended 31st March 2026.
The dividend declaration, which signals positive returns for shareholders, was formalized following a Board of Directors meeting held on 25th August 2026. The proposed dividend is subject to approval by the company’s shareholders at the upcoming Annual General Meeting (AGM) scheduled for 30th September 2026.
Key Dates for Shareholders
Investors and shareholders should note the following critical dates pertaining to the dividend distribution:
- Board Meeting (Proposal Date): 25th August 2026
- Annual General Meeting (Shareholder Approval): 30th September 2026
- Ex-Dividend (XD) Date: 1st October 2026
- Record Date: 2nd October 2026
- Cash Dividend Dispatch Date: 20th October 2026
The company has also confirmed that the payment of dividends will be subject to the deduction of applicable withholding tax, in compliance with prevailing tax regulations in Sri Lanka.
Commitment to Solvency and Compliance
In adherence to corporate governance standards and regulatory requirements, the Board of Directors of Mahaweli Coconut Plantations PLC has affirmed its confidence in the company’s financial stability. At the meeting on 25th August 2026, the Board resolved that it has reasonable grounds for believing that the company would satisfy the solvency test immediately following the proposed dividend distribution.
Furthermore, to ensure complete compliance with Section 57 of the Companies Act No. 07 of 2007 (as amended), the Board has resolved to obtain a Certificate of Solvency from the company’s external auditors. The Managing Director has been authorized to coordinate with the auditors and handle all necessary documentation for this purpose. A certified copy of this certificate will be forwarded to the Colombo Stock Exchange (CSE) upon its issuance.
KALRUPCO Management Services (Private) Ltd., serving as the Company Secretaries for Mahaweli Coconut Plantations PLC, confirmed these details in a communication to the Colombo Stock Exchange, noting that the share transfer book will not be closed in relation to this dividend declaration.
This dividend proposal reflects Mahaweli Coconut Plantations PLC’s continued commitment to delivering value to its shareholders and underscores its stable financial performance during the last financial year. Investors on the Colombo Stock Exchange will be closely watching the outcome of the AGM.
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