DBH approves 25pc cash dividend

The general shareholders of Delta Brac Housing Finance Corporation Ltd. (DBH) on Tuesday unanimously approved 25 percent (cash) dividend for the year ending June 30, 2014 as proposed by the Board of Directors, says a press release.
The approval was given at the 18th annual general meeting (AGM) of the company held at The Eden Ball Room of 'Hotel Amari' in the city with its chairman Faruq A Choudhury in the chair.
The meeting was attended by its directors- Mr. Nasir A Choudhury, Mr. Rajeev Sardana, Ms. Mehreen Hassan, Mr. M. I. Chowdhury, Mr. Shameran Abed, Ms. Adeeba Rahman, Mr. Q. M. Shariful Ala, Managing Director & CEO and Mr. Jashim Uddin, Company Secretary as well as the general shareholders.
While placing the financial statements Faruq Choudhury said the operating profit of DBH reached to Tk. 139 crore and Company's funds under management was in excess of Tk. 4,860 crores in the fiscal 2013-14. The earnings per share during the year was Tk. 5.15, he said quoting the financial statements.
Expressing satisfaction over the performance of DBH Faruq Choudhury said despite the difficult operating environment and overall slowdown in the real estate sector, the company's earnings showed its resilience in the year ended June 30, 2014.
The innovative investment policy and the initiatives to increase quality services undertaken by the management of DBH have contributed positively to continue its profit, he said hoping that this trend would continue in future also.
Referring to the achievements of "Best Financial Institution" in 2014 by DHL-Daily Star Bangladesh Business Award and the highest credit rating triple 'AAA' for the 8th consecutive year, Mr. Choudhury said these achievements proved that DBH is the role model in the corporate financial sector which will, in fact, encourage our continuous effort to expand housing sector in the Country.