EHL approves 20pc dividend

The 58th annual general meeting (AGM) of Eastern Housing Limited (EHL) was held virtually on Wednesday, says a press release.
Presided over by Abu Luthfe Fazle Rahim Khan, Director, the AGM was attended by members of the Board of Directors namely Suraiya Islam, Abdur Rahim Choudhury, Md Abdul Wadud, Mostafizur Rahman, Independent Directors Md Rafiqul Islam and Kashem Humayun, Managing Director Dhiraj Malakar, Company Secretary Salim Ahmed, FCS, Chief Financial Officer Md Asadul Islam FCA, FCS, and a large number of shareholders.
The shareholders approved the accounts for the year ended 30 June 2022, and Directors' and Auditors' Report.
They also approved 20 per cent cash dividend for the year 2021-2022.
The company achieved net sales of Tk 3.31 billion as against Tk 2.64 billion in the previous year, registering a sales growth of 25 per cent. Net profit after tax stood at Tk 549.1 million for financial year 2021-2022. EPS and NAV per share were Tk 5.88 and Tk 74.71 respectively.
The shareholders expressed their satisfaction and thanked the management for declaration of 20 per cent cash dividend.
In his speech, Managing Director Dhiraj Malakar informed the shareholders that the company has commenced construction work of a mega apartment project for middle-income people at Uttara, Chalabon, in Dhaka, comprising 283 apartments. Construction of another big apartment project comprising 87 flats at Mirpur is nearly at completion stage.
Abu Luthfe Fazle Rahim Khan, in his welcome speech, said that the financial year 2021-2022 was another year of a great success for EHL, as the company made an excellent profit over the last year, which is almost double the previous year's profit.