LankaBangla Finance recommends 12% dividend

LankaBangla Finance Ltd has recommended 7 percent cash and 5 percent stock dividend for the 2019 financial year.

During this time, the consolidated earnings per share (EPS) of the company were Tk0.98, which were Tk0.85 in the previous year. On a solo basis, its EPS was Tk1.43. 

The company reported a low profit in the last financial year due to the underperformance of its subsidiaries. 

"This happened because of a downward trend in the stock market. Also, a company's performance in the capital market does not always remain the same," an official of the company told The Business Standard. 

The annual general meeting of LankaBangla Finance is slated for September 7 where the company's recommended dividend and financial report will be approved. 

The date of record has been set as July 16.

Meanwhile, LankaBangla Finance's consolidated EPS rose by 40 percent, to Tk0.14, in the first quarter of the current financial year.

However, on a solo basis, its EPS fell by 54 percent to Tk0.19.

The company was listed on the Dhaka Stock Exchange (DSE) in 2006 and its paid-up capital is Tk513.18 crore.

The sponsors and directors jointly had 33.56 percent stake in the company, institutional investors 22.94 percent, foreign investors 1.42 percent, and general investors 42.08 percent on February 29, 2020.

The last trading price of each share of the company at the DSE was Tk12.90.