DBH approves 30pc dividend

Staff Correspondent

7 May, 2021 12:00 AM printer

Delta Brac Housing Finance Corporation Limited (DBHL) approved 15 percent cash and 15 percent stock dividend for its shareholders for the year 2020.

The approval came at the 25th annual general meeting (AGM) of the company held on Thursday by using digital platform, said a press release.

This is the highest level of dividend payment for NBFIs for the year 2020 allowed by Bangladesh Bank. Company Chairman Nasir A Choudhury presided over the AGM.

The meeting was attended by its directors Dr. AMR Chowdhury, Vice- Chairman, Mehreen Hassan, Bar-at-Law, Md. Mujibur Rahman, Moin Uddin Ahmed, M. Anisul Haque, Anisur Rahman, Rahseda K. Choudhury, Maj. Gen. (retd) Syeed Ahmed, Managing Director and CEO Nasimul Baten, Company Secretary Jashim Uddin, as well as the general shareholders.

While replying to the queries of the general shareholders, MD and CEO Nasimul Baten highlighted the achievement of highest credit rating ‘AAA’ for the 15th consecutive year with lowest level of Non-Performing Loan. He also mentioned that as a specialised housing finance institution, DBH registered 15 percent growth in operating profit in 2020 compared to previous year.

The NPL reduced to 0.41 percent from 0.45 percent of previous year, but the company made additional provision of Tk. 15.2 crore to cope up with any future contingency that may arise due to Covid-19 pandemic.

In his speech, the chairman of the company Nasir A Choudhury said that the profit after tax of the company reached to Tk. 89 crore for 2020. He also mentioned that company’s total assets were Tk. 5,860 crore and the fund under management were Tk. 8,657 crore at the end of 2020.