British American Tobacco (BAT) Bangladesh is planning to invest Tk 28.38 crore to enhance its production capacity to meet the growing demand for its products.

In a disclosure on the Dhaka Stock Exchange website yesterday, the company said the investment would be sourced through a combination of internal resources and bank loans, aligning with its cash flow strategy.

The company took the decision in a meeting of its board of directors that was held on Tuesday.

The tobacco company operates factories in Dhaka and Savar, alongside a green leaf threshing plant in Kushtia and a green leaf re-drying plant in Manikganj.

British American Tobacco Bangladesh produced 5,030 crore cigarettes and 41.6 lakh kilogrammes of tobacco leaf in the first nine months of this year.

In the January-September period of the year, its net revenue stood at Tk 6,937 crore while net profit was Tk 1,322 crore, according to its financial statement.

It has provided 100 percent cash dividend for the year 2023.

At the end of the third quarter of the current year, it provided a 150 percent interim cash dividend.

Stocks of the multinational cigarette company rose 1 percent to Tk 354 yesterday.