The board of directors of IDLC Finance has recommended a 35 per cent cash dividend for the year ended on December 31, 2020.
The final approval of dividend will come during the annual general meeting (AGM) scheduled for March 31 at 11:00 am, to be held virtually.
The record date is March 11, the company said in a filing with the Dhaka Stock Exchange (DSE) on Thursday.
The leading non-bank financial institution’s consolidated earnings per share (EPS) soared more than 49 per cent year-on-year to Tk 6.74 for the year ended on December 31, 2020. Its consolidated EPS was Tk 4.51 a year ago.
The company has also reported consolidated net asset value (NAV) per share of Tk 40.41 and consolidated net operating cash flow per share (NOCFPS) of Tk 9.05 for the year ended on December 31, 2020, as against Tk 37.18 and negative Tk 4.87 respectively for the same period of the previous year.
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 Dhaka bourse in 1992, closed at Tk 70 each on Wednesday. Its share traded between Tk 35 and Tk 88.60 each in the last year.
The company also disbursed 35 per cent cash dividend for the year ended on December 31, 2019. In 2018, the company also paid 35 per cent cash dividend.
The company’s paid-up capital is Tk 3.77 billion and authorised capital Tk 10 billion while the total number of securities is 377.05 million.
The sponsor-directors own 56.66 per cent stake in the company, while institutional investors own 21.52 per cent, foreign investors 9.70 per cent and the general public 12.12 per cent as of January 31, 2021, the DSE data showed.