GSP Finance incurs Tk153cr loss in 2023
GSP Finance Company (Bangladesh) Ltd, a publicly listed non-bank financial institution (NBFI), incurred a whopping Tk152.87 crore loss in 2023 due to the high provision requirement against bad loans.
According to the price sensitive statement of the company, its board of directors has decided not to declare any dividends for shareholders for the last year.
In 2022 too, it did not pay any dividend to its shareholders for incurring loss.
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The annual general meeting (AGM) will be held on 29 December. The record date, to determine shareholders entitled to the meeting, has been set as 12 December.
Following the no dividend declaration, its share dropped 3.17% to close at Tk6 on Sunday at the Dhaka Stock Exchange.
On 25 September, the company's shares were downgraded to the Z category from the A category due to its failure to pay dividend to shareholders.
According to its financial statement, its consolidated loss per share in 2023 was Tk9.73, which was eight times higher from the previous year.
The consolidated net asset value per share of the company also dropped by 35% to Tk18.05 compared to the previous year at the same time.
As of 31 October 2024, sponsors and directors jointly held 24.44%, institutions 29.05%, and public investors 46.51% shares in the company.
