The board of directors of LankaBangla Finance has recommended 15 per cent cash dividend for the year ended on December 31, 2018.
The final approval of dividend will come at the annual general meeting (AGM) to be held on March 27 in Dhaka, said an official disclosure on Wednesday. The record date is on March 07.
The company has also reported consolidated earnings per share (EPS) of Tk 0.85, consolidated net asset value (NAV) per share of Tk 19.14 and consolidated net operating cash flow per share (NOCFPS) of Tk 3.30 for the year ended on December 31, 2018 as against Tk 4.15 (restated), Tk. 18.19 (restated) and Tk (3.38) (restated) respectively for the same period of the previous year.
The company's net profit after tax (separate) stood at Tk 714.16 million for the year ended on December 31, 2018, down from Tk 1352.79 million in the previous year.
Accordingly, the company's separate EPS stood at Tk 1.40, NAV per share at Tk 17.62 and NOCFPS per share at Tk 3.36 for the year ended on December 31, 2018 as against Tk 2.95 (restated), Tk 15.87 (restated) and minus Tk 2.58 (restated) respectively for the same period a year ago.
The company has further informed that net profit after tax (NPAT) has declined by 47 per cent in 2018 compared to last year due to some reasons.
The company said in 2017, LankaBangla Finance has earned cash dividend of Tk 245 million from one of its subsidiaries (LankaBangla Securities), but this year there was no dividend from subsidiaries.
Income from investment in shares has declined by Tk 273 million compared to last year. Moreover, provision for diminution in value of investment has increased by Tk 108 million.
Due to decline in asset quality provisions for lease, loans and advances have increased by Tk 120 million in 2018, compare to 2017.
On Tuesday, the company's share price closed at Tk 27 on DSE, soaring 9.75 per cent over the previous day.
Its share traded between Tk 22 and Tk 41.60 in the last one year.
The LankaBangla Finance, which was listed on the DSE in 2006, disbursed 7.50 per cent cash and 7.50 per cent stock dividend for the year ended on December 31, 2017.
The company's paid-up capital is Tk 5.13 billion, authorised capital is Tk 10 billion and the total number of securities is 513.17 million.
The sponsor-directors own 33.56 per cent stake in the company, while institutional investors own 21.43 per cent, foreign investors 3.47 per cent, and the general public 41.54 per cent as of January 31, 2109.
The company has also informed that the board of directors of Lanka Bangla Securities has recommended 5.0 per cent cash dividend for the year ended on December 31, 2018.
Lanka Bangla Securities is a 90.91 per cent held subsidiary company of Lanka Bangla Finance.
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