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The Financial Express

Phoenix Finance to pay 12pc dividend for 2020

| Updated: July 01, 2021 09:14:29


Phoenix Finance to pay 12pc dividend for 2020

Phoenix Finance and Investments has recommended 6.0 per cent cash and 6.0 per cent stock dividend for the year ended on December 31, 2020.

The board of directors of the company has approved the financial statements of the company for the year ended on December 31, 2020 at a meeting held on Thursday and recommended the dividends, officials said.

The final approval of the dividend will come during the annual general meeting (AGM) scheduled to be held on September 30 at 11:30am using the digital platform. The record date is set on July 29.

The company has also reported earnings per share (EPS) of Tk 1.36, net asset value (NAV) per share of Tk 22.01 and net operating cash flow per share (NOCFPS) of Tk 5.25 for the year ended on December 31, 2020 as against Tk 1.79, Tk 21.23 and Tk 7.11 respectively for the same period of the previous year.

The non-bank financial institution has informed that stock dividend has been recommended to utilise it's retain amounts as paid-up capital for improving the capital adequacy and thereby facilitate future business expansion of the company.

Stock dividend is declared out of accumulated profit and not declared from capital reserve or revaluation reserve or any unrealised gain, said the company.

Each share of the company, listed on the Dhaka Stock Exchange (DSE) in 2007, closed at Tk 29.80 on Thursday. Its shares traded between Tk 20.60 and Tk 31.70 in the last one year.

The company also disbursed 6.0 per cent cash and 6.0 per cent stock dividend for the year ended on December 31, 2019.

The company's paid-up capital is Tk 1.48 billion, authorised capital is Tk 3.0 billion and the total number of securities is 148.10 million.

The sponsor-directors own 32.60 per cent stakes in the company while the institutional investors own 23.30 per cent and the general public 44.10 per cent as of May 31, 2021, the DSE data shows.

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