GSP Finance declares 10% dividends
The AGM will be held online on 27 September
GSP Finance Company (Bangladesh) Limited — a publicly listed non-banking financial institution — recommended 2.5% cash and 7.5% stock dividends for the year ending 31 December, 2021.
Shareholders will get Tk0.25 per share, and 7.5 bonus shares for every 100 shares.
The stock dividend is subject to approval of the Bangladesh Securities and Exchange Commission.
According to the company's disclosure on the Dhaka Stock Exchange website on Wednesday, it recommended the bonus shares to utilise its retained amount as paid-up capital for improving capital adequacy, and to facilitate future business expansion.
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The annual general meeting (AGM) will be held on 27 September on a digital platform. The record date, to identify shareholders entitled to the dividends, has been set at 4 September.
The company paid an 11% dividend – 5.5% cash and 5.5% stock – for 2020.
GSP Finance was incorporated in 1995 and was publicly listed in 2012.
According to its financial statements, its consolidated earnings per share (EPS) in 2021 increased a meagre 2.9% to Tk1.44 from Tk1.4 in 2020.
Its consolidated profit after tax stood at Tk22.67 crore in 2021, which was Tk22.03 crore in 2020.
But on a solo basis, the company's net profits declined by 3% to Tk19.70 crore in 2021, compared to the year before.
In 2020, it reported a 17% growth in its consolidated net profits over the previous year.
