Bay Leasing to pay 10pc dividend

The board of directors of Bay Leasing& Investment Ltd has recommended 7.5 per cent cash and 2.5 per cent stock dividend for the year ended on December 31, 2019.

The final approval of the dividend will come during the annual general meeting (AGM) scheduled to be held on October 29 at 11:00am through digital platform.

The record date is on September 17, according to an official disclosure on Wednesday.

The non-bank financial institution has also reported consolidated earnings per share (EPS) of Tk 1.09, consolidated net asset value (NAV) per share of Tk 19.80 and consolidated net operating cash flow per share (NOCFPS) of Tk 0.70 for the year ended on December 31, 2019 as against Tk 1.60, Tk 19.42 and Tk 4.48 respectively for the same period of the previous year.

In 2018, the company disbursed 10 per cent cash dividend.

Each share of the company, which was listed on the Dhaka bourse in 2009, closed at Tk14.50 on Wednesday, soaring 5.84 per cent over the previous day.

Its share traded between Tk 10 and Tk 16 in the last one year.

The company's paid-up capital is Tk 1.37 billion and authorised capital is Tk3.0 billion while the total number of securities is 137.45 million.

The sponsor-directors own 29.64 per cent stake in the company, while the institutional investors own 37.26 per cent, foreign investors 0.34 per cent and the general public 32.76 per cent as on July 31, 2020, the DSE data shows.

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