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| Rayynor Silva |
Young business leader and electronic media fame Rayynor Silva on Friday increased his stake in Sampath Bank to over 6% by picking up 20 million shares for Rs. 1 billion. As at 31 December 2022, Rayynor via his investment arm Phantom Investments, held 32.5 million shares or 2.84%. On Friday he bought 1.7% stake or 20 million shares at Rs. 54.50 per share. Seller was Phoenix Ventures, which held 25 million shares or 2%.
Confirming the purchase, Rayynor told the Daily FT that the decision to increase the stake was based on fundamentals and seeing greater value with future upside.
In between end December and last Friday, Rayynor had picked up more stakes and is estimated to be having 62 million shares of Sampath Bank, thereby rising to be the fifth largest shareholder.
As at 31 December 2022, business leader Dhammika Perera-controlled Vallibel One held 171 million shares or 15% stake followed by Prabhash Subasinghe owned Ayenka Holdings (9.97%), Employees Provident Fund (9.97%), and Indra Silva (8.2%). Rosewood, held 4.51% whilst Senthilverl Holdings and Dr. T. Senthilverl held around 6%.
Overall 24.28 million shares of Sampath Bank traded on Friday for Rs. 1.32 billion accounting for 46% of the turnover. A block of 20 million shares were traded via five crossings and another 1 million via two crossings at Rs. 56 per share. Sampath Bank closed the week at Rs. 55.60, up by Rs. 1.70 or 3%.
Sampath Bank was the first in the industry to declare a cash dividend for 2022. Its Board of Directors recommended a final dividend of Rs. 4.60 per share (Rs. 3.45 per share in cash and Rs. 1.15 per share in scrip) subject to the approval of the shareholders at the Annual General Meeting on 30 March 2023.
The Dividend pay-out ratio for the year ended 31 December 2022 stood at 40.1% (2021: 39%).
Notwithstanding the extremely challenging economic conditions, Sampath Bank registered a profit before tax (PBT) of Rs. 15 billion and a profit after tax (PAT) of Rs. 13.1 billion for the year ended 31 December 2022.
