Loss widens, Phoenix Finance will not pay dividend

Phoenix Finance and Investments Ltd — a non-bank financial institution in the country — will not pay dividends for 2022 as its losses have widened to the previous year.

Lastly, the NBFI paid its shareholders a 12% stock dividend in 2022.

According to its disclosure published on the bourses on Sunday, the loss per share jumped to Tk8.36.

The loss per share was Tk2.11 in the previous year in 2021.

The annual general meeting (AGM) will be held on 7 December through the digital platform, and the record date has been fixed on 12 October.

The net asset value per share declined to Tk9.18 in 2022, which was Tk17.54.

In 2021, the NBFI had incurred a loss of Tk35 crore.

The company was listed on the bourses in 2007. Out of total shares, sponsor-directors held 30.51%, institutionally held 23.63%, and the general public held 45.86%.

Source: The Business Standard
Shopping Basket

Capital Market Risk Assessment Survey

Iram Hoque

Mohd. Iramul Hoque (Iram) completed his bachelor’s degree in Industrial Engineering in 2018 from Purdue University.

He joined Deloitte Consulting LLP as a Consulting Analyst based out of New York City having previously worked in similar roles at PricewaterhouseCoopers LLP & Landis+Gyr.

Iram left consulting and returned to Bangladesh to take up the family business. Realizing the opportunity in the capital market in Bangladesh, Iram worked relentlessly to found Columbia Shares & Securities Ltd in 2021.

Md Saiful Hoque

Md. Saiful Hoque received his bachelor’s degree in Civil Engineering from Columbia University in 1986 followed by a master’s degree from Texas A&M University in 1988. Upon completion of his Graduate Degree, he joined Gulf Interstate Engineering Company in Houston, USA serving as a Project Engineer.

He returned to Bangladesh in 1992 to join Columbia Enterprise Ltd., the family business of Shipping and Freight Forwarding services. In addition, he has built flourishing businesses manufacturing Garment’s Accessories and Fast-Moving Consumer Goods.