DBH shareholders approve 25% dividend
The shareholders of Delta Brac Housing Finance Corporation Ltd (DBH) unanimously approved 25% dividend (15% cash & 10% Stock) for the year ending December 31, 2021.
In addition, the shareholders also approved two special resolutions for changing its name from 'Delta Brac Housing Finance Corporation Ltd.' to 'DBH Finance PLC' and increase its authorised capital from Tk200 crore to Tk400 crore.
The approvals were given at the 26th annual general meeting (AGM) of the company held recently by using digital platform with its Chairman Nasir A Choudhury in the chair, read a press release.
Keep updated, follow The Business Standard's Google news channel
The meeting was attended by its directors Dr AMR Chowdhury, Vice Chairman Mehreen Hassan, Md Mujibur Rahman, Moin Uddin Ahmed, M Anisul Haque, Anisur Rahman, Rahseda K Choudhury, Maj Gen Syeed Ahmed (Rtd.), Managing Director & 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 16th consecutive year with lowest level of Non-Performing Loan.
He also mentioned that as a specialised housing finance institution, DBH registered 18% growth in Operating Profit in 2021 compared to previous year. The NPL ratio is only 0.63% of total loan portfolio, which is one of the best in country's financial sector.
In his speech, Chairman Nasir A Choudhury said that the profit after tax of the company reached to Tk104 crore for 2021 which is 17% higher than previous year.
He also mentioned that company's total assets increased to Tk6,028 crore.
Expressing satisfaction over the performance of DBH, Nasir Choudhury said despite the difficult operating conditions and overall slowdown in the economy due to Covid-19, the company's performance demonstrated its resilience and strength.
The initiatives undertaken by the management to improve the risk management and service quality contributed positively to continue its profit, he said hoping that this trend will continue in future also.
