Dhaka, Bangladesh (BBN)- The Industrial and Infrastructure Development Finance Company Limited (IIDFC) approved 20 percent stock dividend for its shareholders for the year of 2008 at its 8th annual general meeting (AGM) at a city hotel on Tuesday.

Chairman M Matiul Islam of the Board of Directors of the company presided over the meeting, the non-banking financial institution said.

The representatives of shareholders, consisting of 10 commercial banks including, two government ones, Investment Corporation of Bangladesh (ICB) and three insurance companies in the private sector attended the meeting while Managing Director Asaduzzaman Khan of the company was also present.

BBN/SS/SI/AD-21May09-9:09 am (BST)