Dhaka, Bangladesh (BBN) – The board of directors of Investment Corporation of Bangladesh (ICB) has approved a stock dividend of 100 per cent and a cash dividend of 5.0 per cent per share for 2008-09.
The approval came at the 33rd annual general meeting (AGM) of the state-owned asset management company held in the capital, Dhaka on Saturday.
Prof M Khairul Hossain, Chairman of ICB board of directors, presided over the AGM, the company said.
The shareholders discussed various aspects of the annual report and audited accounts as well as the activities of ICB and its subsidiary companies for the fiscal 2008-09.
During the period, ICB had earned a net profit of BDT 1.1163 billion, which was 10.32 per cent higher than that of the previous year and it was the highest since its inception.
It was the second consecutive year that ICB had declared a 100 percent stock dividend. The corporation also declared a 22 percent dividend for its unit fund.
ICB committed a net financial assistance of BDT 1.3765 billion to 15 projects in the form of pre-IPO placement, purchase of preference shares and debentures, equity participation and lease financing during the fiscal 2008-09 which was 304.40 per cent higher than that of the previous year.
It also committed to act as a trustee for bond issue of a company and debentures of two companies valued at BDT 3.50 billion; as trustee and custodian of nine mutual funds worth of BDT 10.75 billion and as arranger for debentures issues of two companies during the period under report.
The shareholders expressed their satisfaction at the achievement and growth of business of the company and its subsidiaries.
BBN/SS/SI/AD-22November09-2:19 am (BST)
