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DBH approves 35pc dividend

April 02, 2019 00:00:00

The 23rd Annual General Meeting (AGM) of Delta Brac Housing Finance Corporation Ltd. (DBH) held in Dhaka on Sunday approved 35% dividend (25% cash & 10% stock) for 2018. Nasir A Choudhury, Chairman of the company presided over the meeting which was attended by its Board Members, Q. M. Shariful Ala, Managing Director & CEO and Jashim Uddin, Company Secretary as well as the public shareholders of the company

The shareholders of Delta Brac Housing Finance Corporation Ltd. (DBH) on Sunday unanimously approved 35pc (25% cash & 10% stock) dividend for the year ending December 31, 2018 as proposed by the Board of Directors, says a press release.

The approval was given at the 23rd annual general meeting (AGM) of the company held at "Delta Life Conference Hall" in the city with its Chairman, Nasir A Choudhury in the chair.

The meeting was attended by its directors- Dr. A M R Chowdhury, Vice- Chairman, Mr. Md. Sayeed AhmedFCA, Mr. Md. Mujibur Rahman, Mr. Irfan Syed, Maj. Gen. Syeed Ahmed (Rtd.), Q. M. Shariful Ala FCA, Managing Director & CEO and Jashim Uddin, Company Secretary as well as the general shareholders.

While placing the financial statements Nasir Choudhury said that the operating profit of the Company reached to Tk. 1,501 million for the year of operation ending December 2018. He also mentioned that Company's total assets were Tk. 57,499 million at the end of the period and the EPS stood at Tk. 8.60 per share.

Expressing satisfaction over the performance of DBH, Nasir Choudhury said despite the difficult operating conditions and overall slowdown in the financial sector, the company's earnings showed its resilience in the year ended December 31, 2018. The innovative lending policy and the initiatives to increase quality services undertaken by the management of DBH have contributed positively to continue its profit, he said hoping that this trend would continue in future also.

Referring to the achievement of the highest credit rating triple 'AAA' for the 13th consecutive year, Q. M. Shariful Ala said this unique milestone reflected the fact that DBH is a role model in the corporate financial sector which will, encourage our continuous effort to expand home ownership in the country.

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