The dividend payout of Delta Brac Housing Finance Corporation Ltd. (DBH) has increased by 38 percent compared to last year as the company has declared 15 percent stock dividend i.e., 3 bonus shares against every 20 ordinary shares and 17 percent cash dividend for 2008-09.
The announcement of stock and cash dividends by the board was approved by the general shareholders at the company’s 13th AGM that held at the Harmony Hall of Bangbandhu International Conference Centre in the city today. Chairman of DBH Mr. Faruq A. Choudhury, who presided over the meeting, presented the Directors’ Report, the Auditors’ Report and the audited Financial Statements for the FY 2008-09 at the AGM.
The AGM was also attended by Directors Mohammad Aminul Alam, Dr. Syed Mukarram Ali, Nasir A. Choudhury, Dr. Kabir Hussain Choudhury, Nurul Huda, Muhammed Syedul Islam, Pradip Kumar Mukherjee, Q. M. Shariful Ala, Managing Director and the general shareholders.
According to the financial statements, the earning per share (EPS) has increased to Tk. 64 in the year 2008-09 against Tk. 47 in the last year showing a growth of 36 percent.
DBH continued to grow its business and profitability despite stiff competition from banks and other financial institutions and sluggish trend in the real estate sector due to the fallout of global economic recession.
DBH has earned a net profit after payment of income tax of Tk. Tk. 233.89 million as against Tk. 176 million in the previous year. The company’s funds under management have increased by 38 percent to Tk. 23,800 million and the quality assets continue to be strong with non-performing loans remaining below 0.50 percent.
The statement said DBH’s loan book experienced a 35 percent rise to Tk. 13,241 million from Tk. 9,791 million in the previous year. Loan disbursement during the year was Tk. 5,327 million against Tk. 4,002 million in the previous year representing a growth of 33 percent.
Expressing satisfaction over the company’s performance despite downturn in the real estate sector caused by the global economic recession Mr. Faruq Choudhury said “clients and shareholders trust on DBH have made it possible to become the leaders in housing finance.” DBH will continue to retain its top position in the housing sector as like in the past, he hoped.
Referring to the awarding of highest credit rating triple ‘AAA’ for the fourth consecutive years, Mr. Choudhury said this achievement will encourage our continuous effort to expand housing sector in the country. The success made by the company had been possible because of the strong support received from its clients and regulators, including the Bangladesh Bank and the Securities and Exchange Commission, other relevant government agencies, shareholders, DBH Board members and its competent and professional work force, he said.
The shareholders appreciated the operational and financial performance during the period under review. |
