 | ICB approves 105pc dividend
22 November, 2009
The board of directors of Investment Corporation of Bangladesh (ICB) has approved a stock dividend of 100 per cent and a cash dividend of 5.0 per cent per share for 2008-09.
The approval came at the 33rd annual general meeting (AGM) of the state-owned asset management company held in the city Saturday.
Prof M Khairul Hossain, chairman of ICB board of directors, presided over the AGM, according to a press release.
ICB Managing Director Md Humayun Kabir, its directors and a large number of shareholders attended the AGM and took part in deliberations.
The shareholders discussed various aspects of the annual report and audited accounts as well as the activities of ICB and its subsidiary companies for the fiscal 2008-09.
During the period, ICB had earned a net profit of Tk 1.1163 billion (Tk 111.63 crore), which was 10.32 per cent higher than that of the previous year and it was the highest since its inception.
It was the second consecutive year that ICB had declared a 100 per cent stock dividend. The corporation also declared a 22 per cent dividend for its unit fund.
ICB committed a net financial assistance of Tk 1.3765 billion to 15 projects in the form of pre-IPO placement, purchase of preference shares and debentures, equity participation and lease financing during the fiscal 2008-09 which was 304.40 per cent higher than that of the previous year.
Release link:http://www.thefinancialexpress-bd.com/more.php?news_id=85033
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