DBH approves 30pc bonus shares
Wednesday, 3 December 2008
Delta Brac Housing Finance Corporation Ltd (DBH), country's largest housing finance company Tuesday approved 30 percent bonus shares for the year ended June 30,2008.
The announcement of the stock dividends i.e. 3 bonus shares for every 10 shares held on the record date came at the 12th Annual General Meeting (AGM) of the company held at the Bangladesh-China Friendship Conference Centre at Agargaon in the city.
Chairman of DBH Mr. Faruq A. Choudhury presented the Directors' Report, the Auditors' Report and the audited Financial Statements for the FY 2007-08 at the AGM.
Presided over by Mr. Faruq A Choudhury, the AGM was also attended by Directors Nasir A. Choudhury, Mohammad Aminul Alam, Dr. Syed Mukarram Ali, Dr. Kabir Hussain Choudhury, Nurul Huda, Muhammed Syedul Islam, Pradip Kumar Mukherjee, Managing Director Q. M. Shariful Ala and the general shareholders.
The financial statements showed that DBH continued to grow its business and profitability despite intense competition from banks and other financial institutions. The FY 2007-08 saw an impressive 40 per cent growth in disbursements compared to that of the previous year.
The statements said DBH's consolidated equity grew by a robust 32 per cent during FY 2007-08. Total funds under management, inclusive of deposits, of the company stood at Tk.17.19 billion at the end of FY 2007-08, it said adding DBH earned net profit before tax Tk. 342.3 million in the FY 2007-08 against last year's Tk. 260.1 million, showing an increase of 32 percent.
The statement said after payment of income tax of Tk. 165.9 million, the company's profit stood at Tk. 176.4 million in FY 2007-08, showing a healthy growth of 31 per cent compared to the previous year.
Mr. Faruq Choudhury said, "DBH has emerged as country's largest housing finance company due to confidence and trust of the clients and shareholders on it.
The shareholders appreciated the operational and financial performance during the period under review.
The announcement of the stock dividends i.e. 3 bonus shares for every 10 shares held on the record date came at the 12th Annual General Meeting (AGM) of the company held at the Bangladesh-China Friendship Conference Centre at Agargaon in the city.
Chairman of DBH Mr. Faruq A. Choudhury presented the Directors' Report, the Auditors' Report and the audited Financial Statements for the FY 2007-08 at the AGM.
Presided over by Mr. Faruq A Choudhury, the AGM was also attended by Directors Nasir A. Choudhury, Mohammad Aminul Alam, Dr. Syed Mukarram Ali, Dr. Kabir Hussain Choudhury, Nurul Huda, Muhammed Syedul Islam, Pradip Kumar Mukherjee, Managing Director Q. M. Shariful Ala and the general shareholders.
The financial statements showed that DBH continued to grow its business and profitability despite intense competition from banks and other financial institutions. The FY 2007-08 saw an impressive 40 per cent growth in disbursements compared to that of the previous year.
The statements said DBH's consolidated equity grew by a robust 32 per cent during FY 2007-08. Total funds under management, inclusive of deposits, of the company stood at Tk.17.19 billion at the end of FY 2007-08, it said adding DBH earned net profit before tax Tk. 342.3 million in the FY 2007-08 against last year's Tk. 260.1 million, showing an increase of 32 percent.
The statement said after payment of income tax of Tk. 165.9 million, the company's profit stood at Tk. 176.4 million in FY 2007-08, showing a healthy growth of 31 per cent compared to the previous year.
Mr. Faruq Choudhury said, "DBH has emerged as country's largest housing finance company due to confidence and trust of the clients and shareholders on it.
The shareholders appreciated the operational and financial performance during the period under review.