This is the highest dividend payment amount for non-bank financial institutions (NBFIs) allowed by Bangladesh Bank during 2020
The shareholders of Delta Brac Housing Finance Corporation Ltd. (DBH) on Thursday unanimously approved a 30% dividend (divided into 15% cash and 15% stock) for 2020.
The board of directors proposed the dividend, says a press release.
The approval was granted at the 25th annual general meeting of the company with its Chairman, Nasir A Choudhury, as the chair. Attendees include Directors Dr. A M R Chowdhury, Vice-Chairman Mehreen Hassan, Bar-at-law Md. Mujibur Rahman, Moin Uddin Ahmend, M. Anisul Haque, FMCA Anisur Rahman, Rahseda K. Choudhury, Maj. Gen Syeed Ahmed, Managing Director & CEO Nasimul Baten, Company Secretary Jashim Uddin, as well as general shareholders.
This is the highest dividend payment amount for non-bank financial institutions (NBFIs) allowed by Bangladesh Bank during 2020.
MD & CEO Nasimul Baten highlighted DBH’s achievements during 2020 such as achieving the highest credit rating ‘AAA’ for its 15th consecutive year with the lowest level of non-performing loans (NPL), and registering a 15% growth in operating profit compared to 2019.
The NPL reduced from 0.45% to 0.41%, and the company has an additional Tk15.2 crore to cope with potential contingencies due to Covid-19. Nevertheless, the company has proposed the highest permitted dividend for its shareholders.
Chairman Nasir A Choudhury said profits after tax reached Tk89 crore and the funds under management were Tk8,657 crore at the end of 2020. The company’s total assets were Tk5,860 crore.
He expressed satisfaction over DBH’s performance, stating that, “despite difficult operating conditions and the economic slowdown, the company’s performance demonstrated its resilience.”
He states that DBH’s initiatives to increase the quality of services have also contributed positively to profit gain and he hopes this trend will continue.