The Board of Directors of IDLC Finance Limited on Thursday approved 35% cash dividend (Tk3.50 per share) at the 34th annual general meeting (AGM) for the company's shareholders.
Chairman of IDLC Finance Limited Aziz Al Mahmood presided over the AGM, held at the Radisson Blu Water Garden Hotel in Dhaka, according to a press release.
IDLC representatives revealed that as a result of strong governance framework and a commitment towards customer-centric drive, IDLC has continued to be the frontrunner in the financial market.
The company displayed resilient performance in 2018, despite the challenging market conditions.
At the end of 2018, IDLC Group’s total loan book increased by 17.39%, reaching Tk8,393 crore, while non-performing loans (NPLs) reduced to 2.20% from 2.77% in 2017.
Reflecting an improvement in portfolio quality, this succeeded in strengthening the total asset size by 14.09% to Tk1,091 crore, which contributed to a five-year cumulative average growth rate (CAGR) of 16.70%.
The five-year CAGR of the IDLC's net profit after tax stood at 26.53% at the end of 2018, despite the decline in profitability experienced by its subsidiaries.
Among others, Directors Atiqur Rahman, Monower Uddin Ahmed, Md Abdul Wadud, Mahia Juned, Mohammad Mahbubur Rahman, Md Kamrul Hassan, Mati Ul Hasan, Niaz Habib, Matiul Islam Nowshad, CEO and Managing Director Arif Khan, and Company Secretary Mohammad Jobair Rahman Khan, and shareholders, were also present at the AGM.
