ICB approves 10pc dividend

The shareholders of ICB on Saturday approved 5.0 per cent stock and 5.0 per cent cash dividend for the year 2019-2020.
The approval came at the 44th Annual General Meeting (AGM) of Investment Corporation of Bangladesh (ICB) held on the day through Digital/Virtual Platform.
During FY 2019-2020, ICB earned solo and consolidated (with subsidiaries) net profit of Tk 40.92 crore and Tk. 56.49 crore respectively.
Earlier the Corporation had declared dividend for its Unit Fund @ of Tk 40.00 per Unit Certificate which is highest than any other mutual fund.
During the period under review, the Corporation made cumulative investment from beginning to last fiscal year of Tk. 14,557.18 crore in the capital market.
The Corporation also acts as Trustee to the issue of 1 bond of Tk. 400.00 crore & 2 mutual fund of Tk. 35.00 crore during 2019-2020. The Corporation recovered an amount of Tk. 868.07 crore on account of dividend, margin loans, project loans and other loans/advances. During the period, the total trading of ICB and its subsidiary companies in both the bourses was Tk. 9664.45 crore.
Like in the previous year, ICB and it's subsidiaries retained top positions in asset management and trustee activities.The shareholders appreciated the pivotal role played by the Corporation to regain confidence of the investors during share market debacle and maintaining stability in the market.
They also noted with satisfaction the significant achievement and growth of business of the Corporation. They appreciated the important role played by ICB in maintaining depth, stability, reliability and liquidity of the stock markets as well as in maintaining a buoyant and effective capital market in the country.
They however, stressed the need to maintain the tempo of reforms and present trend of improvement and proposed valuable suggestions on various aspects of the Corporation's activities.
The Chairman of the Board of Directors and the Managing Director of ICB acknowledged with gratitude the co-operation and support received from the valued shareholders, Ministry of Finance, Bangladesh Bank, Bangladesh Securities and Exchange Commission, stock exchanges, Central Depository Bangladesh Limited and other stakeholders.
The meeting also put in record the outstanding services rendered by the employees of the Corporation for its development as a prime financial institution in the country.
The meeting was presided over by Prof. Dr. Md. Kismatul Ahsan, Chairman, Board of Directors of the Corporation. The meeting was attended by the Managing Director of ICB Mr. Md. Abul Hossain and other Directors of ICB. A large number of shareholders virtually attended the meeting.
The shareholders informed various aspects of the Annual Report and Audited Accounts of ICB and its subsidiary companies for the year 2019-2020.
They expressed their extreme satisfaction for its performance and the pivotal role it played during the critical period of capital market.