DBH offers 17% dividend for 2022

DBH Finance PLC (DBH), a non-banking financial institution, on Wednesday declared 17 per cent dividends for its shareholders for 2022.

The board of directors of the company recommended a 15 per cent cash and 2 per cent stock dividend for its shareholders for the year ended on December 31, 2022.

The recommendation is pending the approval of its shareholders at the Annual General Meeting (AGM), which is scheduled to be held on May 18.

DBH Finance reported a 2.62 per cent year-on-year decline in profit. Its profit declined to Tk 101.59 crore in the financial year that ended on December 31, 2022 from Tk 104.32 crore in the previous year.

Its earnings per share (EPS) is Tk 5.21 for 2022, down from Tk 5.35 in 2021. The net asset value (NAV) per share of DBH Finance rose to Tk 41 in 2022 from Tk 37.15 as on 2021.

But the net operating cash flow per share (NOCFPS) stood at negative Tk 19.64 in 2022, down from negative Tk 0.04 in the previous year.

“The NOCFPS decreased significantly due to higher encashment of deposits during the year with a net cash outflow of Tk 391.8 crore,” stated the NBFI in a filing on the Dhaka Stock Exchange.

For the year 2021, the NBFI made a payment of 15 per cent cash and a 10 per cent stock to its shareholders.

Since its inception in 1996, the company has registered commendable growth in creating home ownership all over the country.

The NBFI has a keen focus on financing homes for the population and is in the process of launching its Islamic Wing, which will allow it to cater to a wider range of investment and deposit products for its clients.

DBH has a solid capital adequacy ratio (CAR) of 28.37 per cent and a return on equity (ROE) of 13.34 per cent as of December, 2022.

DBH has 14 branches covering all divisions with a plan for further expansions.

Its share price was Tk 57.80 on the country’s prime bourse in Wednesday’s trading session.