United Finance posts 5% profit growth
The company made a profit of Tk22.22 crore last year, which was Tk21.12 crore in 2020
After a 13.66% decline in 2020, the United Finance Limited, a non-bank financial institution in the country, has reported a 5.2% growth in net profit for 2021.
United Finance- an affiliated institution with Duncan Brothers (Bangladesh) Limited, Camellia PLC (United Kingdom) and Lawrie Group PLC (United Kingdom)- has recommended a 10% cash dividend for its shareholders.
The company disclosed this at the board of directors' meeting held on 24 March.
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According to its financials, the company's net profit after tax rose to Tk22.22 crore for 2021, and the earnings per share (EPS) stood at Tk1.19.
In 2020, the profit was Tk21.12 crore, EPS Tk1.13, and it had paid a 10% cash dividend to its shareholders.
As per the financials of the company, up to September of 2021, its net profit stood at Tk13.36 crore.
In the final quarter of 2021 from October to December, the company made a profit of Tk8.86 crore, bringing the total amount to Tk22.22 crore.
The company said, in 2021, its net asset value per share rose to Tk17.30 from Tk17.11 in 2020.
The company's net profit after tax was Tk24.47 crore in 2019. In 2020, the net profit declined to Tk21.12 crore, a 13% fall from the previous year.
It also said, the next annual general meeting (AGM) will be held on 17 May through a digital platform, and to identify shareholders of the company, the record date has been fixed for 17 April.
United Finance Limited started its journey as a financial institution in 1989 and got listed with the stock exchange in 1994.
It is currently listed under the 'A' category.
As of February 2022, the sponsors and directors held 51.83% of the company's total 187,114,615 shares. Institutional investors have 18.94% and general investors have 29.23% shares.
In the last trading session On Thursday, its share price was Tk18.60 each.
