Eastern Housing approves 15pc dividend
Wednesday, 9 December 2009
FE Report
Eastern Housing Limited (EHL) has approved a cash dividend of Tk 15 per ordinary share of Tk 100 each for the year ended July 31, 2009.
The approval came at the 45th Annual General Meeting of the company held Monday in the city.
Manzurul Islam, chairman of the company presided over the AGM.
In his address to the shareholders, the chairman informed on various aspects of the company's activities.
Slowing down of economy along with global crisis hit the company's business for the second consecutive year.
For the second time, in the Apartment Sector and for the first time in Land Sector's performance fell beyond optimum level. Moreover, due to RAJUKs permission EHL's projects, Banasre Model Town and Pallabi Phase-two, were delayed.
All these adversity, persisting stress and strain evidently had its reflection in the market. During the year under review, the Company could develop 35.28 acres of land against 252.00 acres of the previous year and has another 41.27 acres of land at different stages of development against 43.73 acres land in the previous year.
In the apartment sector, the company has completed only 664 apartments and 33 shops in the previous year. The stock of finished apartments, shops, commercial spaces etc is 2,564 in addition, 1,410 flats/shops are in the process of construction.
The prevailing market forces bore upon the sales activities of the company both under land & apartment sectors resulting in unprecedented low sales turnover, During the year under review, quantum of land sale decreased to 54.43 acres as against 255.78 acres of previous year.
Eastern Housing Limited (EHL) has approved a cash dividend of Tk 15 per ordinary share of Tk 100 each for the year ended July 31, 2009.
The approval came at the 45th Annual General Meeting of the company held Monday in the city.
Manzurul Islam, chairman of the company presided over the AGM.
In his address to the shareholders, the chairman informed on various aspects of the company's activities.
Slowing down of economy along with global crisis hit the company's business for the second consecutive year.
For the second time, in the Apartment Sector and for the first time in Land Sector's performance fell beyond optimum level. Moreover, due to RAJUKs permission EHL's projects, Banasre Model Town and Pallabi Phase-two, were delayed.
All these adversity, persisting stress and strain evidently had its reflection in the market. During the year under review, the Company could develop 35.28 acres of land against 252.00 acres of the previous year and has another 41.27 acres of land at different stages of development against 43.73 acres land in the previous year.
In the apartment sector, the company has completed only 664 apartments and 33 shops in the previous year. The stock of finished apartments, shops, commercial spaces etc is 2,564 in addition, 1,410 flats/shops are in the process of construction.
The prevailing market forces bore upon the sales activities of the company both under land & apartment sectors resulting in unprecedented low sales turnover, During the year under review, quantum of land sale decreased to 54.43 acres as against 255.78 acres of previous year.