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The board of directors of International Leasing & Financial Services Ltd has recommended 5.0 per cent stock dividend for the year ended on December 31, 2018.
The final approval of the dividend will come during the annual general meeting (AGM) scheduled to be held on August 22 in Dhaka, said an official disclosure on Sunday.
The record date is July 23.
The company has also reported consolidated earnings per share (EPS) of Tk 0.53, consolidated net asset value (NAV) per share of Tk 13.36, and consolidated net operating cash flow per share (NOCFPS) of negative Tk 6.29 for the year ended on December 31, 2018 as against Tk 1.84, Tk 12.83, and Tk 7.26 respectively for the same period of the previous year.
The company has further informed that net profit after tax (NPAT) has declined by 71.07 per cent compared to last year for the following reasons:
In 2017, ILFSL had investment income of Tk 189 million but this year (2018) there was a loss of Tk 64 million.
Commission, fees, exchange, and brokerage income witnessed a decrease of Tk 114 million due to less brokerage income from subsidiary (International Leasing Securities Limited).
Due to increase in asset, quality provisions for lease, loans, and advances also decreased by Tk 65 million in 2018 compared to 2017.
Provision for diminution in value of Investment decreased by Tk 23 million. Provision for income tax is increased by Tk 141 million in 2018 compared to 2017, because the claim from write off loan also decreased by Tk 365 million.
In 2017, the company disbursed 12 per cent stock dividend.
There will be no price limit on the trading of the shares of the company on today (Sunday) following its corporate declaration.
Each share of the company, which was listed on the Dhaka bourse in 2007, closed at Tk 11 on Thursday last at the Dhaka Stock Exchange (DSE).
Last year, its share traded between Tk 9.0 and Tk 18.40 each.
The company’s paid-up capital is Tk 2.11 billion and authorised capital is Tk 3.0 billion while the total number of securities is 211.24 million.
The sponsor-directors own 41.54 per cent stake in the company, while the institutional investors own 26.85 per cent, foreign investors 1.31 per cent, and the general public 30.30 per cent as on May 31, 2019, the DSE data shows.