“LOLC joins Trillion Club”
Your newspaper on March 2 published an article titled “LOLC joins the Trillion Club” announcing that “… the LOLC Group crossed the Rs. 1 trillion mark with total assets reaching Rs. 1,008 trillion as at December 2018”. Congratulations to the LOLC for all those who assisted in reaching ‘this significant achievement’.
However will the LOLC kindly explain through the newspapers how ‘this significant achievement’ benefits the shareholders of LOLC without whom, such an achievement would not have been possible? This seems all the more important as the annual report of LOLC for 2017/18 (and probably repeated in LOLC’s annual report for 2018/19 records (on page 18 thereof) under ‘Financial highlights’, that during the period 2009 to 2018, dividends (Rs. 0.28 and Rs. 0.50, respectively) have been declared only in the years 2009 and 2013. Such benefits have not been received by the LOLC shareholders for eight of the 10 years under review. Surely this is much less than what shareholders would expect to receive from a company that has joined the ‘Trillion Club’.
Concerned LOLC shareholder