IDLC Finance saw its profit grow in 2024 as the company looks to expand its capital base and portfolio.
The non-bank financial institution (NBFI) reported a 32 percent year-on-year rise in consolidated net profit to Tk 200.36 crore in 2024.
For all latest news, follow The Daily Star’s Google News channel. The company also reported consolidated earnings per share (EPS) of Tk 4.82, up from Tk 3.64 a year earlier, according to a disclosure on the Dhaka Stock Exchange (DSE) yesterday.
The NBFI’s shares rose 1.64 percent to Tk 31 in morning trade at the DSE following the disclosure.
Its consolidated net operating cash flow per share increased significantly to Tk 8.42 in 2024 from negative Tk 22.53 in the previous year.
IDLC’s board has recommended a 15 percent cash dividend, the same as last year, and a 5 percent stock dividend for 2024.
Net operating cash flow rebounded to Tk 8.42 in 2024 from negative Tk 22.53 in the previous year, while a 5 percent stock dividend aims to fuel capital and portfolio expansion.
The stock dividend is aimed at increasing the capital base and supporting future portfolio growth, the company said in the disclosure.
The total proposed dividend stands at Tk 83.14 crore. As of December 31, 2024, the retained earnings stood at Tk 1,563.74 crore, more than enough to cover the proposed dividend without using reserves such as share premium or revaluation surplus, IDLC said.
“The post-dividend retained earnings will remain positive,” the company noted in the disclosure.
Founded in 1985, IDLC has evolved into one of Bangladesh’s largest multi-product, multi-segment NBFIs. It currently operates in 20 districts with 40 branches and booths, according to its website.
