EHL shareholders approve 15% cash dividend for 2020 - 2021

The shareholders of Eastern Housing Limited (EHL) have approved a 15% cash dividend for the financial year 2020 - 2021.

The approval came at the company's 57th Annual General Meeting (AGM) held virtually on Wednesday, said a press release.

Expressing satisfaction over the declaration of 15% cash dividend, the shareholders also approved the accounts for the year ended 30 June 2021, the directors' and auditors' report.

The Company achieved net sales of Tk264 crore while it was Tk253 crore in the previous year. 

The company's net profit after tax stood at Tk37.29 crore for the financial year 2020-2021. 

EHL Chairman Manzurul Islam presided over the AGM.

In his welcome speech, Manzurul Islam said that EHL maintained its profitability in 2020 - 21 because of its strong financial position, despite worldwide economic downtrend due to coronavirus pandemic.

Expressing deep appreciation, the Chairman said, "The shareholders' trust and support to the company's performance over the years helped to gain the current position of the company."

EHL Managing Director Dhiraj Malakar discussed the future business plan of the company with shareholders.

He said, "The Company has commenced construction work of two large projects at Mirpur and Uttara, Chalabon, Dhaka, comprising of 87 and 283 apartments, respectively."

Members of the Board of Directors Suraiya Islam, Abu Luthfe Fazle Rahim Khan, Abdur Rahim Choudhury, Md Abdul Wadud, Mostafizur Rahman, Independent Directors Md Rafiqul Islam, and Kashem Humayun, Company Secretary Salim Ahmed, FCS, Chief Financial Officer Md Asadul Islam FCA, FCS, and shareholders attended the meeting.