DBH's dividend payout increases by 38pc
Tuesday, 24 November 2009
The dividend payout of Delta Brac Housing (DBH) Finance Corporation Limited has increased by 38 per cent compared to last year as the company has declared 15 per cent stock dividend (three bonus shares against every 20 ordinary shares) and 17 per cent cash dividend for the shareholders for the year of 2008-09.
This was disclosed at the 13th annual general meeting (AGM) of the company at Bangbandhu International Conference Centre in the city Monday, said a press release.
Chairman of the board of directors of the company Faruq A Choudhury presided over the meeting while DBH directors Mohammad Aminul Alam, Muhammad A (Rumee) Ali, Dr Syed Mukarram Ali, Nasir A Choudhury, Dr Kabir Hussain Chowdhury, Nurul Huda, Muhammed Syedul Islam and Pradip Kumar Mukherjee and Managing Director QM Shariful Ala were present on the occasion.
A large number of shareholders of the company attended the AGM.
Mr Faruq A Choudhury presented the directors' report, auditors' report and audited financial statements for the FY 2008-09 at the AGM.
According to the financial statements, the earning per share (EPS) of the company has increased to Tk 64 in the year 2008-09 against Tk 47 in the last year showing a growth of 36 per cent.
DBH continued to grow its business and profitability despite stiff competition from banks and other financial institutions and sluggish trend in the real estate sector due to the fallout of global economic recession.
The company's funds under management have increased by 38 per cent to Tk 23,800 million and the quality assets continue to be strong with non-performing loans remaining below 0.50 per cent.
The statement also said DBH's loan book experienced a 35 per cent rise to Tk 13,241 million from Tk 9,791 million in the previous year.
Expressing satisfaction over the company's performance despite downturn in the real estate sector caused by the global economic recession, Mr Faruq A Choudhury said: "Clients and shareholders' trust on DBH have made it possible to become the leader in housing finance." DBH would continue to retain its top position in the housing sector as in the past, he hoped.
Referring to the awarding of highest credit rating triple 'AAA' for the fourth consecutive years, Mr Faruq A Choudhury said this achievement would encourage our continuous effort to expand housing sector in the country.
The shareholders appreciated the operational and financial performance during the period under review.
This was disclosed at the 13th annual general meeting (AGM) of the company at Bangbandhu International Conference Centre in the city Monday, said a press release.
Chairman of the board of directors of the company Faruq A Choudhury presided over the meeting while DBH directors Mohammad Aminul Alam, Muhammad A (Rumee) Ali, Dr Syed Mukarram Ali, Nasir A Choudhury, Dr Kabir Hussain Chowdhury, Nurul Huda, Muhammed Syedul Islam and Pradip Kumar Mukherjee and Managing Director QM Shariful Ala were present on the occasion.
A large number of shareholders of the company attended the AGM.
Mr Faruq A Choudhury presented the directors' report, auditors' report and audited financial statements for the FY 2008-09 at the AGM.
According to the financial statements, the earning per share (EPS) of the company has increased to Tk 64 in the year 2008-09 against Tk 47 in the last year showing a growth of 36 per cent.
DBH continued to grow its business and profitability despite stiff competition from banks and other financial institutions and sluggish trend in the real estate sector due to the fallout of global economic recession.
The company's funds under management have increased by 38 per cent to Tk 23,800 million and the quality assets continue to be strong with non-performing loans remaining below 0.50 per cent.
The statement also said DBH's loan book experienced a 35 per cent rise to Tk 13,241 million from Tk 9,791 million in the previous year.
Expressing satisfaction over the company's performance despite downturn in the real estate sector caused by the global economic recession, Mr Faruq A Choudhury said: "Clients and shareholders' trust on DBH have made it possible to become the leader in housing finance." DBH would continue to retain its top position in the housing sector as in the past, he hoped.
Referring to the awarding of highest credit rating triple 'AAA' for the fourth consecutive years, Mr Faruq A Choudhury said this achievement would encourage our continuous effort to expand housing sector in the country.
The shareholders appreciated the operational and financial performance during the period under review.