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Lowest cash dividend from United Finance in seven years

Staff Correspondent
28 Mar 2023 00:00:00 | Update: 27 Mar 2023 23:09:59
Lowest cash dividend from United Finance in seven years

United Finance Limited has announced its lowest cash dividend since 2015, following a 36 per cent year-on-year decrease in profit to Tk 14.2 crore in 2022.

The Board of Directors recommended a 5 per cent cash dividend for the fiscal year ending on December 31, 2022.

This differs significantly from the company’s usual approach of announcing a 10 per cent cash dividend every year since 2016.

According to the company’s financial report, for the year ended December 31, 2022, United Finance recorded earnings per share (EPS) of Tk 0.76, decreasing from Tk 1.19 in the same period of the previous year.

Its net asset value (NAV) per share of Tk 17.06, and net operating cash flow per share (NOCFPS) was negative Tk 12.47 as per the year ended on December 31, 2022. In addition, the company’s EPS for the July-September quarter of 2022 was Tk 0.09, compared to Tk 0.21 in the same period in 2021.

For January-September 2022, the EPS was Tk 0.25, down from Tk 0.71 in the corresponding period of 2021.

Listed in 1994, the company announced a 5 per cent cash dividend once back in 2015, while it has given bonus shares to shareholders from 2004 to 2017, with the highest bonus of 100 per cent given in 2004, and a continuous decrease in bonus percentages were witnessed over the years.

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