Fareast Finance declares 15pc dividend
Fareast Finance and Investment Limited, a leasing and financing company, has declared a 15 percent dividend for its shareholders for the year 2003.The dividend was announced at the 3rd annual general meeting of the company held in Dhaka on Monday, says a press release. M Mustafizur Rahman, chairman of the company, presided over the meeting while Alauddin A Majid, managing director, and Santanu Saha, company secretary, were, among others, present. It was disclosed in the meeting that the company earned a net profit of Tk 84 lakh during the year 2003, which is Tk 75 lakh higher than that of the previous year. The company disbursed Tk 24.71 crore in the form of lease and term finances and the total business with the clients outstanding at the end of 2003 stood at Tk 29.18 crore.
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