Bay Leasing recommends 10% cash dividend

Non-banking financial institution Bay Leasing and Investment has recommended a 10% cash dividend for its shareholders for 2020.

The board of directors of the company made the decision at a meeting on Tuesday.

In 2019, it paid 7.50% cash and 2.50% stock dividends.

The annual general meeting (AGM) of Bay Leasing has been scheduled for 4 November where the company's recommended dividend and financial report will be approved.

The company set 18 October as the record date to determine the investors for the dividends.

The consolidated earnings per share (EPS) of the non-bank financial institution were Tk1.14 in the last year, which was 7% higher than the previous year.

Meanwhile, the consolidated net asset value per share of the company stood at Tk19.80 in the last financial year that ended on 31 December 2020.

Its consolidated net operating cash flow per share was Tk5.94 in that year.

The company was listed on the Dhaka Stock Exchange (DSE) in 2009 and its paid-up capital is Tk140.88 crore.

Sponsors and directors hold 30.07%, institutional investors 35.46%, foreign investors 0.12% and general investors 34.35% shares of the company till August this year.

Within the last year, its share price jumped 127% to Tk36.40 at the Dhaka Stock Exchange (DSE). At the end of Tuesday's trading session, its share closed at Tk36 each.