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Year Net Income (Tk.) Total Common Equity(Tk.

) ROE Net Cash Dividend


2004 970,043,543 4,590,142,003 0.21 252,000,000
2005 1,255,848,153 5,568,790,156 0.23 299,376,000
2006 1,165,864,616 6,402,014,772 0.18 335,340,000
2007 1,303,242,840 7,333,257,612 0.18 268,272,000
2008 1,381,863,093 8,417,040,705 0.16

Year

2004

2005

2006

2007
Retained Earnings Retention Rate Growth Growth(%)
718,043,543 1 0.16 15.64 100
956,472,153 0.76 0.17 17.18
830,524,616 0.71 0.13 12.97
1,034,970,840 0.79 0.14 14.11

Retained Earnings Growth

718043543 0.16

956472153 0.17

830524616 0.13

1034970840 0.14
YEAR DATES SHARE PRICE (Tk.) DIVIDEND (Tk.) Share price befor
30-06-2004 3,598.50 4,000.00
04-07-2004 3,535.00
3,500.00
05-07-2004 3,491.25
06-07-2004 3,484.50 3,000.00
07-07-2004 3,475.00

Share prices
2004 08-07-2004 3,370.50 70.00 2,500.00
10-07-2004 3,340.25 2,000.00
12-07-2004 3,325.25
13-07-2004 3,338.50 1,500.00
14-07-2004 3,366.00 1,000.00
15-07-2004 3,379.06
10-07-2005 3,621.50 500.00
11-07-2005 3,647.25
0.00
12-07-2005 3,623.25
30- 04- 05- 06-
13-07-2005 3,566.00
06- 07- 07- 07-
14-07-2005 3,577.50 200 200 200 200
2005 17-07-2005 3,224.25 77.00
18-07-2005 3,294.25
19-07-2005 3,268.75
20-07-2005 3,250.25
21-07-2005 3,264.00 Share prices bef
23-07-2005 3,258.75 4,000.00
20-07-2006 2,299.75 3,500.00
23-07-2006 2,295.25
3,000.00

Share Prices
24-07-2006 2,297.00
25-07-2006 2,291.00 2,500.00
26-07-2006 2,284.25 2,000.00
2006 27-07-2006 2,476.75 75.00 1,500.00
30-07-2006 2,542.50 1,000.00
31-07-2006 2,516.25
500.00
01-08-2006 2,509.50
02-08-2006 2,554.75 0.00
03-08-2006 2,570.00 10- 11- 12- 1
07- 07- 07- 0
09-07-2007 3,771.00
200 200 200 2
10-07-2007 3,710.25
11-07-2007 3,719.75
12-07-2007 3,727.25
15-07-2007 3,788.25 Share prices befo
2007 16-07-2007 4,163.25 50.00 2,750.00
17-07-2007 4,692.00 2,500.00
18-07-2007 4,582.75 2,250.00
19-07-2007 4,556.75 2,000.00
Share prices

22-07-2007 4,801.75 1,750.00


23-07-2007 4,894.75 1,500.00
14-07-2008 5,359.25 1,250.00
15-07-2008 5,287.50 1,000.00
16-07-2008 5,198.00
750.00
17-07-2008 5,147.50
500.00
20-07-2008 5,050.50
250.00
2008 21-07-2008 4,671.75 40.00
0.00
20- 23- 24- 25
07- 07- 07- 07
200 200 200 20
1,250.00

Share
1,000.00
750.00
500.00
250.00
0.00
22-07-2008 4,144.75
20- 23- 24- 25
23-07-2008 4,225.00
07- 07- 07- 07
24-07-2008 4,204.00 200 200 200 20
27-07-2008 4,168.25
28-07-2008 4,138.00

Share prices before and after dividend declaration


5,000.00
4,500.00
4,000.00
Share prices

3,500.00
3,000.00
2,500.00
2,000.00
Column C
1,500.00
1,000.00
500.00
0.00
09- 10- 11- 12- 15- 16- 17- 18- 19- 22- 23-
07- 07- 07- 07- 07- 07- 07- 07- 07- 07- 07-
2007 2007 2007 2007 2007 2007 2007 2007 2007 2007 2007
Dates

Share prices before and after dividend declaration

5,000.00

4,000.00
Share prices

3,000.00

2,000.00 Column C
1,000.00

0.00
14- 15- 16- 17- 20- 21- 22- 23- 24- 27- 28-
07- 07- 07- 07- 07- 07- 07- 07- 07- 07- 07-
2008 2008 2008 2008 2008 2008 2008 2008 2008 2008 2008
Dates
Share price before and after dividend declaration
4,000.00
3,500.00
3,000.00
Share prices

2,500.00
2,000.00
1,500.00 Column C

1,000.00
500.00
0.00
30- 04- 05- 06- 07- 08- 10- 12- 13- 14- 15-
06- 07- 07- 07- 07- 07- 07- 07- 07- 07- 07-
200 200 200 200 200 200 200 200 200 200 200
Dates

Share prices before and after dividend is declared


4,000.00
3,500.00
3,000.00
Share Prices

2,500.00
2,000.00
1,500.00 Column C
1,000.00
500.00
0.00
10- 11- 12- 13- 14- 17- 18- 19- 20- 21- 23-
07- 07- 07- 07- 07- 07- 07- 07- 07- 07- 07-
200 200 200 200 200 200 200 200 200 200 200
Dates

Share prices before and after dividend is declared


2,750.00
2,500.00
2,250.00
2,000.00
Share prices

1,750.00
1,500.00
1,250.00
1,000.00 Column C
750.00
500.00
250.00
0.00
20- 23- 24- 25- 26- 27- 30- 31- 01- 02- 03-
07- 07- 07- 07- 07- 07- 07- 07- 08- 08- 08-
200 200 200 200 200 200 200 200 200 200 200
Dates
1,250.00
Share
1,000.00 Column C
750.00
500.00
250.00
0.00
20- 23- 24- 25- 26- 27- 30- 31- 01- 02- 03-
07- 07- 07- 07- 07- 07- 07- 07- 08- 08- 08-
200 200 200 200 200 200 200 200 200 200 200
Dates

Column C

Column C

-
-
08
Changes in Retained Earnings
Year Retained Earnings Growth
2004 718043543 0.16
2005 956472153 0.17
2006 830524616 0.13
2007 1034970840 0.14

Changes in Retained Earnings


1100000000
1000000000
900000000
Retained Earnings

800000000
700000000
600000000
Retained Earn-
500000000
ings
400000000
300000000
200000000
100000000
0
2004 2005 2006 2007

Year

Year Growth(%)
2004 15.64
2005 17.18
2006 12.97 Year 2004
2007 14.11 Growth(%) 15.64

Year 2004 2005


Retained Earnings 718043543 956472153

Growth Trends
17.5

15

12.5
Growth(%)

10

7.5 Growth(%)

2.5

0
Column F Column G Column H Column I

Year
12.5

Growth(%)
10

7.5 Growth(%)

2.5

0
Column F Column G Column H Column I

Year
2005 2006 2007
17.18 12.97 14.11

2006 2007
830524616 1034970840
Year Price per share Earning per share P/E ratio
2004 2,272 108.48 20.94
2005 3,768 140.44 26.83
2006 2,276 130.37 17.46
2007 2,447 145.74 16.79
2008 4,110 154.53 26.6

Changes in P/E ratio


27.5
25
22.5
P/E ratio (times)

20
17.5
15
12.5 Column D
10
7.5
5
2.5
0
2004 2005 2006 2007 2008
Year

Year Common Equity Share Outstanding BV per share Price per share M/B ratio
2004 4,590,142,003 3,600,000 1275.04 2,272 1.78
2005 5,568,790,156 4,320,000 1289.07 3,768 2.92
2006 6,402,014,772 4,963,000 1289.95 2,276 1.76
2007 7,333,257,612 5,961,600 1230.08 2,447 1.99
2008 8,417,040,705 8,942,400 941.25 4,110 4.37

Changes in M/B ratio


4.5
4
3.5
M/B ratio (times)

3
2.5
2 Column F
1.5
1
0.5
0
2004 2005 2006 2007 2008
Year
Year Price (Po) Dividend paid (Do) Growth (g) Expected Dividend (D1)
2004 2,272 70 0.16
2005 3,768 77 0.17 82.02
2006 2,276 75 0.13 86.99
2007 2,447 50 0.14 85.59
2008 4,110 40 0.13 56.39

Year

2005
2006
2007
2008

Year Net Income (Tk.) Retained Earnings Growth(%)


2004 970,043,543 718,043,543 15.64
2005 1,255,848,153 956,472,153 17.18
2006 1,165,864,616 830,524,616 12.97
2007 1,303,242,840 1,034,970,840 14.11
Expected Rate of Return (Ks) Ks in% Actual Rate of Return (K) K in %

0.19 19.35 0.19 19.22


0.17 16.79 0.16 16.27
0.18 17.61 0.16 16.16
0.14 14.15 0.14 13.75