DBH approves 30pc dividend for 2020

Staff Correspondent | Published: 22:18, May 06,2021

 
 

The shareholders of Delta Brac Housing Finance Corporation Ltd unanimously approved 30 per cent dividend – 15 per cent cash and 15 per cent stock – for the year ending December 31, 2020 as proposed by the Board of Directors, a press release said on Thursday.

This is the highest level of dividend payment for NBFIs for the year 2020 allowed by Bangladesh Bank.

The approval was given at the 25th annual general meeting of the company held online on Thursday with its chairman Nasir A Choudhury in the chair.

The meeting was attended by its directors AMR Chowdhury, vice-chairman, Mehreen Hassan, Md Mujibur Rahman, Moin Uddin Ahmed, M Anisul Haque, Anisur Rahman, Rahseda K Choudhury, retired Major General Syeed Ahmed, managing director and chief executive officer Nasimul Baten, company secretary Jashim Uddin, as well as the general shareholders.

Replying to the queries of the general shareholders, Nasimul Baten highlighted the achievement of highest credit rating ‘AAA’ for the 15th consecutive year with lowest level of non-performing loan.

He also mentioned that as a specialized housing finance institution, DBH registered 15 per cent growth in Operating Profit in 2020 compared to previous year.

The NPL reduced to 0.41 per cent from 0.45 per cent of previous year, but the company made additional provision of Tk. 15.2 crore to cope up with any future contingency that may arise due to Covid pandemic, he said.

The company chairman Nasir A Choudhury said that the profit after tax of the Company reached to Tk 89 crore for 2020.

He also mentioned that Company’s total assets were Tk. 5,860 crore and the fund under management were Tk 8,657 crore at the end of 2020.

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