IPDC Finance declares 10% cash dividend
IPDC Finance Ltd has declared a 10% cash dividend for its shareholders for the year that ended on 31 December 2022. The figure was 12% the previous year.
The dividend payout was recommended at the company's recently held board of directors meeting.
However, final approval of the recommended amount will come during a virtual AGM scheduled for 27 April, said the company in a filing with the Dhaka Stock Exchange (DSE) on Tuesday.
Keep updated, follow The Business Standard's Google news channel
The company has reported EPS of Tk2.43 and NAV per share of Tk18.33 with revaluation during the period. In 2021, its EPS was Tk2.37 while NAV per share was Tk17.12 with revaluation.
The record date for the distribution of the declared dividend among the shareholders has been fixed 21 March.
There will be no price limit on the trading of the shares of the company today (28 February) following its corporate declaration.
According to IPDC's disclosure, its net operating cash flow per share (NOCFPS) become negative at Tk11.26 for the year ended on 31 December 2022.
Addressing the reasons for the deviation in Net Operating Cash Flow Per Share (NOCFPS), IPDC said, "Cash outflow for loans disbursements was higher against negative cash flow from deposits resulting in negative cash flow from operating activities. Loans/leases and advances were grown as well as deposits experienced degrowth.
"Surplus liquidity of 2021 was utilised in 2022 for disbursement of loans and advances. However, overall cash position in 2022 was positive."
