Loss-making Union Capital unable to pay dividends for years

Business Report :
Union Capital Ltd, which posted profits for more than a decade after its listing in 2007, has been incurring losses for years and is unable to pay any dividends to its shareholders.

According to its financial statements, the non-bank financial institution (NBFI) ended its 12-year winning streak in 2019 and plunged into losses, with the trend persisting into the first half of this year.

It last paid 5% stock dividends in 2018.

According to the latest financial reports, Union Capital posted a consolidated loss of Tk206 crore in 2022, the highest in its history.

The loss stood at Tk138 crore in 2021.

In the first six months of this year, the loss stood at Tk103 crore, and the NBFI’s accumulated losses till June amounted to Tk594 crore.