ICB approves 2.5% cash, 2.5% stock dividend

The 47th Annual General Meeting (AGM) of the Investment Corporation of Bangladesh (ICB) was held on Saturday (23 December) through a virtual platform, where shareholders approved 2.5% cash and 2.5% stock dividend for the year ended on 30 June 2023. 

The meeting was presided over by Prof Dr Suborna Barua, chairman of the Board of Directors of ICB, reads a press release. 

Md Abul Hossain, managing director, and other directors of the Board of ICB attended the meeting. A significant number of shareholders were virtually connected to the meeting. 

In the meeting, the shareholders were informed about the various aspects of the Annual Report and Audited Accounts of ICB for the FY 2022-2023. They expressed their satisfaction with the performance of ICB and its pivotal role during the critical period of the capital market.  

In the FY 2022-2023, ICB earned solo and consolidated (with subsidiaries) net profit of Tk43.52 crore and Tk77.58 crore respectively.

In the meeting, the shareholders approved the annual accounts and the dividend of 2.5% cash and 2.5% stock, as declared by the Board of Directors of ICB for the FY 2022-2023, which was 5% cash and 5% stock in the FY 2021-2022.

During the period under review, ICB made an aggregated investment of Tk1,614.01 crore in the capital market and recovered an amount of Tk1,177.53 crore as dividend, margin loans, project loans and other loans/advances. 

The total transaction of ICB and its subsidiary companies in both the bourses was Tk18,095.15 crore which is 44.87% less than that of Tk32,825.51 crore in the previous year.