The approval of the dividend came at the 19th annual general meeting of the company held in Dhaka recently with its chairman Mohammed Al Mazroui presiding over, says a press release.

The dividend will be distributed on 60:40 basis between UAE and Bangladesh governments.

UBICO is a joint venture financial institution established by Abu Dhabi Fund for Development (ADF) and the government of Bangladesh on 60:40 ownership basis.

In 2006, the company enjoyed a significant growth in term of revenue and net profit. Same in line, the return on equity has also increased from 23 percent to 24 percent. The share value of the company has increased by 249.89 percent since its inception.

The investment portfolio of UBICO consists of 25.99 percent in garments sector, 21.93 percent in capital machinery & infrastructure development sector, 16.45 percent in healthcare & medical sector, 10.96 percent in SME sector, 13.71 percent in agriculture sector and 10.96 percent in micro-enterprise development sector. Out of the total investment, term loan comprises 13.10 percent, lease finance 7.13 percent and equity 79.77 percent.