ICB approves 35 per cent dividend

The 42nd annual general meeting (AGM) of Investment Corporation of Bangladesh (ICB) was held at a city hotel on Saturday, according to a statement.

The AGM approved 35 per cent (30 per cent cash and 5.0 per cent stock) dividend for the year 2017-2018. Earlier the corporation had declared dividend for its unit fund at of Tk 40 per unit certificate.

The meeting was presided over by Prof. Dr. Mojib Uddin Ahmed, Chairman, board of directors of the company.

The meeting was attended by the Managing Director of ICB Kazi Sanaul Hoq and other directors of ICB. A large number of shareholders attended the meeting and took part in the discussions.

The shareholders discussed various aspects of the annual report and audited accounts of ICB and its subsidiary companies for the year 2017-2018.

They expressed their extreme satisfaction for its performance and the pivotal role it played during the critical period of capital market.

During FY 2017-2018, ICB earned solo and consolidated (with subsidiaries) net profit of Tk 3.77 billion and Tk. 4.16 billion respectively, the statement said.

During the period under review, the Corporation sanctioned financial assistance of Tk. 3.78 billion in the form of Pre-IPO placement, debentures, equity participation, lease financing and investment in bonds and made cumulative investment from beginning to last fiscal year of Tk. 115.20 billion in the capital market.

The Corporation also acts as Trustee to the issue of 5 bonds of Tk. 10.25 billion during 2017-2018. The Corporation recovered an amount of Tk. 8.41 billion on account of dividend, margin loans, project loans and other loans/advances.

During the period, the total trading of ICB and its subsidiary companies in both the bourses was Tk. 154.78 billion. Like in the previous year, ICB and its subsidiaries retained top positions in asset management and trustee activities.