Dhaka, Bangladesh (BBN) - IPDC Finance has recommended 20 per cent stock dividend for the year ended on December 31, 2016, said an official disclosure on Monday.
The board of directors of final approval of the dividend will come during the annual general meeting (AGM) scheduled to be held on May 2.
The record date for entitlement of dividend is on March 13, 2017.
The non-bank financial intuition has also reported earnings per share (EPS) of BDT 2.00 net asset value (NAV) per share of BDT 18.32 and net operating cash flow per share (NOCFPS) of BDT 7.48 for the year ended on December 31, 2016 as against BDT 1.59 (restated), BDT 16.33 (restated) and BDT 2.13 (restated) respectively for the same period of the previous year.
There will be no price limit on the trading of the shares of the company today following its corporate declaration.
At DSE, the company’s share price hovered between BDT 45.30 and BDT 46.90, before closing at BDT 45.80 each on Sunday, advancing 1.32 per cent over the previous day.
IPDC, which was listed on the bourses in 2006, also disbursed 20 per cent stock dividend for the year ended on December 31, 2015.
The company’s paid-up capital is BDT 1.51 billion and authorised capital is BDT 4.0 billion, while the total number of securities is 151,500,567.
The sponsor-directors own 51.05 per cent stake in IPDC, while the government owns 21.88 per cent, institutional investors 10.98 per cent, foreign investors 3.17 per cent and the general public 12.92 per cent as on January 31, 2017, the DSE data shows.
Recently, the board of directors of DSE has approved the change of name of the company from “Industrial Promotion and Development Company of Bangladesh Limited” to “IPDC Finance Limited” with effect from January 10, 2017.
BBN/SK/AD