IDLC approves 100pc stock,10pc cash dividends
Wednesday, 21 April 2010
FE Report
IDLC Finance Limited has approved a 100 per cent stock (one share for every one share) and 10 per cent cash dividends for its shareholders for the year 2009.
The approval was given at the 25th annual general meeting (AGM) of the company at Bangabandhu International Conference Centre in the city Monday.
Chairman of the board of directors of the company Anwarul Huq presided over the meeting.
Also present on the occasion were IDLC directors AKM Shaheed Reza, Md Rezaul Karim, Habibur Rahman Mollah, Rubel Aziz, Farooq Sobhan, Meherun Haque and Yongbok Jo and Managing Director and Chief Executive Officer (CEO) Selim RF Hussain.
A large number of shareholders of the company attended the AGM and appreciated the operational and financial performance during the period under review.
Mr Huq presented the directors' report, auditors' report and audited financial statements for the year 2009 before the shareholders.
Despite intense competition from other players in the field, including banks, IDLC continued to maintain its growth in terms of both business volumes and profitability.
IDLC's consolidated equity grew by an impressive 49 per cent over 2008.
The total assets of the company stood at Tk 22.68 billion at the end of 2009, which was 31 per cent higher than that of the previous year.
During the year, consolidated net profit of the company stood at Tk 822 million, showing a robust growth of 102 per cent over 2008, with total equity reaching Tk 2,393 million at the end of 2009. Consolidated earnings per share and return on equity at the year end stood at Tk 273.96 and 44 per cent compared to previous year's Tk 135.46 and 28.43 per cent respectively. The market capitalisation at the end of 2009 was Tk 11.11 billion compared to Tk 5.7 billion at the end of 2008, the company said in a statement.
IDLC Finance Limited has approved a 100 per cent stock (one share for every one share) and 10 per cent cash dividends for its shareholders for the year 2009.
The approval was given at the 25th annual general meeting (AGM) of the company at Bangabandhu International Conference Centre in the city Monday.
Chairman of the board of directors of the company Anwarul Huq presided over the meeting.
Also present on the occasion were IDLC directors AKM Shaheed Reza, Md Rezaul Karim, Habibur Rahman Mollah, Rubel Aziz, Farooq Sobhan, Meherun Haque and Yongbok Jo and Managing Director and Chief Executive Officer (CEO) Selim RF Hussain.
A large number of shareholders of the company attended the AGM and appreciated the operational and financial performance during the period under review.
Mr Huq presented the directors' report, auditors' report and audited financial statements for the year 2009 before the shareholders.
Despite intense competition from other players in the field, including banks, IDLC continued to maintain its growth in terms of both business volumes and profitability.
IDLC's consolidated equity grew by an impressive 49 per cent over 2008.
The total assets of the company stood at Tk 22.68 billion at the end of 2009, which was 31 per cent higher than that of the previous year.
During the year, consolidated net profit of the company stood at Tk 822 million, showing a robust growth of 102 per cent over 2008, with total equity reaching Tk 2,393 million at the end of 2009. Consolidated earnings per share and return on equity at the year end stood at Tk 273.96 and 44 per cent compared to previous year's Tk 135.46 and 28.43 per cent respectively. The market capitalisation at the end of 2009 was Tk 11.11 billion compared to Tk 5.7 billion at the end of 2008, the company said in a statement.