Islamic Finance declares 10pc cash dividend

FE Online Report | Monday, 12 April 2021

The board of directors of Islamic Finance & Investment has recommended a 10 per cent cash dividend for the year ended on December 31, 2020.

The final approval of the dividend will come during the annual general meeting (AGM) scheduled to be held on June 24 at 11:00am through the digital platform.

The record date is May 5, the company said in a filing with the Dhaka Stock Exchange (DSE) on Monday.

The company has also reported EPS of Tk. 1.54, NAV per share of Tk. 14.99 and NOCFPS of Tk. 5.58 for the year ended on December 31, 2020 as against Tk. 1.39 Tk. 14.46 and negative Tk. 3.84 respectively for the same period of the previous year.

In 2019, the company also disbursed 10 per cent cash dividend.

Each share of the company, which was listed on the DSE in 2005, closed at Tk 15.50 on Sunday.

The company’s shares traded between Tk 12.10 and Tk 22.10 in the last one year.

The company’s paid-up capital is Tk 1.40 billion and authorised capital is Tk 2.50 billion, while the total number of securities is 140.32 million.

The sponsor-directors own 32.57 per cent stake in the company while the institutional investors own 35.45 per cent and the general public 31.98 per cent as on January 31, 2021, the DSE data shows.

There will be no price limit on the trading of the shares of the company today following its corporate declaration; however, as per the BSEC order dated March 19, 2020, the floor price shall be applicable accordingly.

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