IDLC approves 20pc stock, 15pc cash dividends
Tuesday, 31 March 2009
The 24th annual general meeting (AGM) of the shareholders of IDLC Finance Limited was held at the Bangladesh China Friendship Conference Centre, Agargaon in the city Monday.
IDLC Chairman Anwarul Huq presided over the meeting where the shareholders approved 20 per cent stock dividend and cash dividend of Tk 15 per share for the year 2008.
Company directors ShafiquI Azam, Rubel Aziz, AKM Shahidul Haque, Yongbok Jo, Aziz Al Kaiser, Habibur Rahman Mollah, K Mahmood Sattar and CEO-cum-Managing Director Anis A Khan attended the AGM.
A large number of shareholders were present at the meeting, says a press release.
Chairman of the company presented the Directors' Report, Auditors' Report and audited Financial Statements for the year 2008 before the shareholders.
The managing director replied to the shareholders' queries.
Despite the global and national economic recession as well as intense competition from other players in the field including banks, IDLC continued to maintain its growth in terms of both business volumes and profitability. The year 2008 saw an 18 per cent growth in disbursements over the previous year.
IDLC's consolidated equity grew by 29 per cent over 2007.
Total assets of the company stood at Tk 17.4 billion at the end of 2008, which is 16 per cent higher than that of the previous year.
During the year, consolidated net profit of the company stood at Tk 406 million, showing a growth of 34 per cent over 2007, with total equity reaching Tk 1,611 million at the end of 2008.
Consolidated earnings per share and return on equity at the year-end stood at Tk 162.6 and 28.4 per cent compared to those of the previous year of Tk 121.3 and 27.6 per cent respectively.
The market capitalisation at the end of 2008 was Tk 5.7 billion compared to Tk 3.0 billion at the end of 2007.
During the discussions, the IDLC CEO-cum-MD mentioned that these achievements were possible only because of the strong support of the shareholders, clients, relevant government agencies, board members and a competent and professional work force.
The shareholders appreciated the operational and financial performance during the period under review.
IDLC Chairman Anwarul Huq presided over the meeting where the shareholders approved 20 per cent stock dividend and cash dividend of Tk 15 per share for the year 2008.
Company directors ShafiquI Azam, Rubel Aziz, AKM Shahidul Haque, Yongbok Jo, Aziz Al Kaiser, Habibur Rahman Mollah, K Mahmood Sattar and CEO-cum-Managing Director Anis A Khan attended the AGM.
A large number of shareholders were present at the meeting, says a press release.
Chairman of the company presented the Directors' Report, Auditors' Report and audited Financial Statements for the year 2008 before the shareholders.
The managing director replied to the shareholders' queries.
Despite the global and national economic recession as well as intense competition from other players in the field including banks, IDLC continued to maintain its growth in terms of both business volumes and profitability. The year 2008 saw an 18 per cent growth in disbursements over the previous year.
IDLC's consolidated equity grew by 29 per cent over 2007.
Total assets of the company stood at Tk 17.4 billion at the end of 2008, which is 16 per cent higher than that of the previous year.
During the year, consolidated net profit of the company stood at Tk 406 million, showing a growth of 34 per cent over 2007, with total equity reaching Tk 1,611 million at the end of 2008.
Consolidated earnings per share and return on equity at the year-end stood at Tk 162.6 and 28.4 per cent compared to those of the previous year of Tk 121.3 and 27.6 per cent respectively.
The market capitalisation at the end of 2008 was Tk 5.7 billion compared to Tk 3.0 billion at the end of 2007.
During the discussions, the IDLC CEO-cum-MD mentioned that these achievements were possible only because of the strong support of the shareholders, clients, relevant government agencies, board members and a competent and professional work force.
The shareholders appreciated the operational and financial performance during the period under review.