LankaBangla Finance posted an over 31 per cent increase in its earnings per share (EPS) for the year ended on December 31, 2021 because of a surge in net capital market investment income.
In a filing with the Dhaka Stock Exchange (DSE) Tuesday, the company said its consolidated EPS increased to Tk 2.38 for the year ended on December 31, 2021, as against Tk 1.81 in the corresponding period.
Despite the higher profit, the company's share price plunged by 4.12 per cent to close at Tk 30.20 on Tuesday, becoming the day's worst loser.
The board of directors of the company has recommended a 10 per cent cash dividend for the year 2021. It is the lowest dividend declaration in eight years despite higher profit.
The company disbursed 12 per cent cash dividend in 2020, 7.0 per cent cash and 5.0 per cent stock in 2019, 15 per cent cash in 2018, 7.50 per cent cash and 7.50 per cent stock in 2017, 15 per cent cash and 15 per cent stock in 2016, 15 per cent and 15 per cent stock in 2015, 10 per cent stock in 2014 and 5.0 per cent stock dividend in 2013.
The company has also reported consolidated net asset value (NAV) per share of Tk 19.82 and consolidated net operating cash flow per share (NOCFPS) of Tk 0.88 in negative for the year ended December 31, 2021 as against Tk 18.64 (restated) and Tk 15.79 respectively for the same period of the previous year.
EPS soared in 2021 from the previous corresponding year mainly because of surge in net investment income of Tk 798.90 million from capital market, increase in brokerage and underwriting commission of Tk 788.30 million and rise in other operational income of Tk 168.55 million offset by noteworthy increase in provisions and suspense for lease, loans and advances negative Tk 843.80 million, said the filing.
"Cash outflow for loan disbursement and settlement against other assets was higher compared to cash inflow from deposits growth resulting in negative cash flow from operating activities," according to the filing.
The company's paid-up capital is Tk 5.38 billion, authorised capital is Tk 10 billion and the total number of securities is 538.83 million.
The sponsor-directors own 33.56 per cent stakes in the company while the institutional investors own 22.56 per cent, foreign investors 0.87 per cent and the general public 43.01 per cent as of March 31, 2022, the DSE data shows.
© 2024 - All Rights with The Financial Express
