LankaBangla Finance declares 12pc dividend

The board of directors of LankaBangla Finance Ltd has recommended 7.0 per cent cash and 5.0 per cent stock dividend for the year ended on December 31, 2019.

The final approval of the dividend will come during the annual general meeting (AGM) scheduled to be held on September 7. Time and Venue will be notified later, according to an official disclosure on Tuesday.

The company has also reported consolidated EPS of Tk 0.98, consolidated NAV per share of Tk 18.48 and consolidated NOCFPS of negative Tk 2.66 for the year ended on December 31, 2019 as against Tk 0.85, Tk 19.14 and Tk 3.30 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; however, the floor price shall be applicable accordingly as per the securities regulator’s directive on March 19, 2020.

Each share of the company, which was listed on the Dhaka Stock Exchange in 2006, closed at Tk 12.90 on Monday.

Its share traded between Tk 11.60 and Tk 22.50 in the last one year.

The company disbursed a 15 per cent cash dividend for the year ended on December 31, 2018.

The company’s paid-up capital is Tk 5.13 billion and authorised capital is Tk 10 billion, while the total number of securities is 513.17 million.

The sponsor-directors own 33.56 per cent stake in the company, while the institutional investors own 22.94 per cent, foreign investors 1.42 per cent and the general public 42.08 per cent as on February 29, 2020, the DSE data showed.