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
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