National Housing Finance’s profit rises 36%
Owing to the good profit growth, the shareholders of the company will get a 5% more dividend compared to the previous year
The National Housing Finance and Investments – a non-bank financial institution – has reported a 36% increase in profit in 2020.
Owing to the good profit growth, the shareholders of the company will get a 5% more dividend compared to the previous year.
In 2020, the National Housing Finance and Investments has recommended a 15% cash dividend or Tk1.5 against each share for the shareholders.
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In the previous year, it paid a 10% cash dividend to its shareholders.
The company provides funds for the people's basic need for shelter, enhances the housing stock of the country, and promotes affordable homeownership.
The non-banking private sector lender has posted a profit of Tk32.13 crore and its earnings per share (EPS) stood at Tk2.75.
The profit is 36% higher than the previous year. In 2019, the profit was Tk23.68 crore and EPS was Tk2.02.
The net asset value (NAV) per share also rose to Tk17.91 from Tk16.17 in the previous year.
The company said the annual general meeting (AGM) will be held on 18 May with the online and in-person presence of shareholders.
The web-link for virtual presence and the place for the physical attendance will be notified later by the company.
National Housing Finance and Investments was incorporated in 1998 under the Companies Act 1994.
Its main objectives are financing for the acquisition, construction, development, and purchase of houses, plots, apartments, real estates, and commercial spaces.
It is also involved in accepting deposits, SME financing, project financing, lease financing, and term loan facility to the corporate and other small and medium clients (SMEs).
The company is currently operating with nine branches covering Dhaka, Chattogram, Bogura, Rangpur, Gazipur, Feni and Rajshahi districts.
National Housing Finance floated its shares in 2008 through Initial Public Offering (IPO) and got listed on the Dhaka Stock Exchange and the Chittagong Stock Exchange.
As of February 2021, out of the 117,031,200 shares of the company, sponsors and directors held 60.79%, government 9.34%, institutional investors 10.03%, and general investors 19.84%.
