DBH Finance approves 15% cash dividend for 2023

Non-banking financial institution DBH Finance PLC (DBH) on Tuesday declared cash dividends for its shareholders for 2023.

The company’s board of directors recommended a 15 per cent cash dividend for its shareholders for the year that ended on December 31, 2023.

The recommendation is pending the approval of shareholders at the Annual General Meeting (AGM), which is scheduled to be held on May 16 using a digital platform and with the physical presence of shareholders.

DBH Finance reported a 3.15 per cent year-on-year decline in profit for last year. Its profit declined to Tk 98.45 crore in the financial year that ended on December 31, 2023, from Tk 101.63 crore in the previous year.

Its earnings per share (EPS) are Tk 4.95 for 2023, down from Tk 5.11 in 2022. The net asset value (NAV) per share of DBH Finance rose to Tk 43.63 in 2023 from Tk 40.16 in 2022. But the net operating cash flow per share (NOCFPS) stood at Tk 43.18 in 2023, up from negative Tk 19.26 in the previous year.

For 2022, the NBFI made a payment of 15 per cent cash and 2 per cent stock to its shareholders.

Since its inception in 1996, the company has registered commendable growth in creating homeownership 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, which has 14 branches covering all divisions with a plan for further expansions, has a solid capital adequacy ratio of 28.37 per cent and a return on equity of 13.34 per cent as of December 2022.

Its share price was at Tk 43.30 on the Dhaka Stock Exchange during Tuesday’s trading session.

Among all banks and financial institutions of Bangladesh, only DBH has secured the highest "AAA" credit rating for 15 consecutive years. The level of credit rating indicates the financial safety, security and strength of the institution.