Dhaka, Bangladesh (BBN) - Bangladesh’s Islamic Finance and Investment has recommended 11 per cent cash dividend and 3.0 per cent stock dividend for the year ended on December 31, 2016, said an official disclosure on Wednesday.
The dividend recommendation came at a meeting of the board of directors of the company held on Wednesday evening in the capital city Dhaka.
The final approval will come during the annual general meeting (AGM) scheduled to be held on May 24 in Dhaka.
The record date for entitlement of dividend is on April 27.
The company has also reported earnings per share (EPS) of BDT 2.30 and net asset value (NAV) per share of BDT 14.14 for the year ended on December 31, 2016.
There will be no price limit on the trading of the shares of the company on Thursday following its corporate declaration.
Each share price of the company, which was listed on the Dhaka bourse in 2005, closed at BDT 26.90 on Wednesday.
In 2015, the company disbursed 13 percent cash dividend.
The company’s paid-up capital is BDT 1.21 billion and authorised capital is BDT 2.50 billion, while the total number of securities is 120.98 million.
The sponsor-directors own 36.59 per cent stake in the company, while institutional investors 33.26 per cent and the general public 30.15 per cent as on February 28, 2017, the DSE data shows.
BBN/MS/SK