The Board of Directors of Islamic Finance and Investment Ltd has recommended a 10% cash dividend for its shareholders for the year that ended on 31 December 2020.
The decision was made at the company's board meeting held on Sunday.
To approve the dividend and audited report and other agenda, the company will hold an annual general meeting (AGM) on 24 June this year. The record date for the AGM has been set on 5 May.
At the end of last year, the company posted earnings per share (EPS) of Tk1.54, which was 11% higher than the previous year.
During the period, the net profit of the company stood at Tk21.61 crore, up from Tk19.57 crore in the previous year.
Last year, the net asset value of each share of Islamic Finance stood at Tk14.99.
Asked about what led to the increase in the net profit amid the pandemic, SQ Bazlur Rashid, company secretary of the company, refused to make any comment.
From January to September 2020, the net investment income of the company was Tk20.43 crore. During the period, the net profit was Tk13.94 crore and net asset value per share was Tk14.45.
Islamic Finance and Investment Ltd was listed on the stock exchanges in 2005. Sponsors and directors jointly hold 32.57%, institutes 35.35% and general investors hold 31.98% shares of the company.
The last trading price of the company's share on the Dhaka Stock Exchange was Tk15.60 per share on Monday.
Islamic Finance and Investment Limited (IFIL) is a financial institution incorporated in Bangladesh on 27 February 2001. The company obtained its license from Bangladesh Bank on 12 April 2001.