IDLC Finance approves 30pc cash dividend

FE Team | Published: March 29, 2018 22:25:43

The 33rd Annual General Meeting (AGM) of IDLC Finance Limited was held at the Radisson Blu Water Garden Hotel in the city on Thursday, according to a statement.
In line with the proposal by the board of directors, the AGM approved 30 per cent cash dividend (Tk 3.00 per share) for the company's shareholders for the year 2017.
Aziz Al Mahmood, Chairman, IDLC Finance Limited presided over the AGM, which was also attended by other directors Monower Uddin Ahmed (Independent Director and Chairman of the Audit Committee), S. M. Mashrur Arefin, Mohammad Mahbubur Rahman FCA, Md. Kamrul Hassan FCA, Syed Shahriyar Ahsan, Atiqur Rahman, Niaz Habib, Matiul Islam Nowshad and CEO & Managing Director Arif Khan CFA FCMA. A large number of shareholders were present at the meeting.
At the end of 2017, the IDLC Group's total loans and advances stood at Tk 71.5 billion, an increase of 14.9 per cent over last year, while deposits grew by 25.9 per cent to Tk 62.1 billion. Simultaneously, net profit after tax rose by 27.9 per cent to Tk 2.27 billion.
It was further outlined how in the preceding year, IDLC reinforced its presence as a sector leader in the country and strengthened its positioning as a customer-centric non-banking financial institution. In 2017, political stability has also fostered an environment that has encouraged investments under the Government's annual development programme, resulting in a conducive business environment.