Delta Brac Housing Finance Corporation has recommended 15 per cent cash and 15 per cent stock 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 May 6 at 11:00am through a hybrid system – combination of physical presence and using digital platforms. The value will be notified later on.
The record date is April 13, the company said in a filing with the Dhaka Stock Exchange (DSE) on Tuesday.
The company has reported EPS of Tk 5.78, NAV per share of Tk. 41.72 and NOCFPS of Tk 9.39 for the year ended on December 31, 2020 as against Tk 6.96 (restated), Tk 37.68 (restated) and Tk 12.52 (restated) respectively for the same period of the previous year.
The company has also informed that stock dividend has been recommended in view to utilise its retained amount as paid-up capital for improving the capital adequacy and thereby facilitate future business expansion of the company.
It also said the stock dividend is declared out of accumulated profit and is not declared from capital reserve or revaluation reserve or any unrealised gain or out of profit earned prior to incorporation of the company or through reducing paid up capital or through doing anything so that the post-dividend retained earnings become negative or a debit balance.
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.
Each share of the company, which was listed on the DSE in 2008, closed at Tk 92.60 on Monday. Its shares traded between Tk 92.60 and Tk 101.90 in the last one year.
In 2019, the company disbursed 20 per cent cash and 15 per cent stock dividend.
Its paid-up capital is Tk 1.54 billion and authorised capital is Tk 2.0 billion while the total number of securities is 154.14 million.
The sponsor-directors own 51.32 per cent stake in the company, while the institutional investors own 13.12 per cent, foreign investors 21.99 per cent and the general public 13.57 per cent as on February 28, 2021, the DSE data show.