IDLC approves 20pc dividend for 2020

IDLC Finance yesterday approved 15 per cent cash and 5 per cent stock dividends for 2020 at its 36th annual general meeting held virtually in compliance with directives of the Bangladesh Securities and Exchange Commission.

In line with Bangladesh Bank directives, the IDLC board placed a revised proposal for dividends, which shareholders approved. It had earlier recommended providing 35 per cent cash dividend.

Despite the pandemic, the IDLC has continued to display a resilient performance attaining a net profit of Tk 254 crore.

IDLC Group's total assets increased by 8 per cent, reaching Tk 12,687 crore at the end of 2020, which led to a strong return on asset of 2.08 per cent.

Aziz Al Mahmood, chairman of IDLC Finance, and directors Atiqur Rahman, Nurullah Chaudhury, Mahia Juned, Mohammad Mahbubur Rahman, Md Kamrul Hassan and Syed Shahriyar Ahsan and independent directors Niaz Habib and Matiul Islam Nowshad were present.