This document contains calculations for the net present value of holding periods for multiple companies. For each company, it calculates a one-year holding period value and a multiple year holding period value using constant dividend growth models. It also includes calculations for growth rates, earnings per share, and price-earnings ratios for each company. The document contains these calculations for six different companies over multiple dates and years.

2. Date Price
Aug, 3-14 24.6 tk
Aug, 1-13 28 tk
Aug, 1-12 38.8 tk
One-year holding period:
So =
퐷1
1+푘
+
푆1
1+푘
=
퐷표 1+푔
1+푘
+
푆1
1+푘
=
17{1+ −.1333 }
1+.15
+
22
1+.15
= 16.75+19.13
= 35.88
D0=17 , S1 = 22
Rate of return required by the investor k = 15%
Growth Rate =
푃푟푒푠푒푛푡 푦푒푎푟 푑푒푣푒푑푛푑−푃푟푒푣푖표푢푠 푦푒푎푟 푑푒푣푒푑푒푛푑
푃푟푒푣푖표푢푠 푦푒푎푟 푑푒푣푒푑푒푛푑
G =
2013−2012
2012
=
17−15
15
= 13.33%
G =
2012−2011
2011
=
15−15
15
= 0%
Bay leasing and Investment .Ltd

3. Multiple year holding periods
So=
퐷1
1+푘 1 +
퐷2
1+푘 2 +
퐷3
1+푘 3 +
퐷4
1+푘 4 +
퐷5
1+푘 5 +
=
17(1+.1333)1
1+0.15 1 +
17(1+.1333)2
1+0.15 2 +
17(1+.1333)3
1+0.15 3 +
17(1+.1333)4
1+0.15 4 +
17(1+.1333)5
1+0.15 5 +
15.80+22
1+0.15 5
= 16.75+16.50+16.27+16.03+15.80+8.79
= 100.14

4. Constant growth rate:
퐷0(1+g)
(푘−푔)
=
So=
17(1+.1333)
0.15−.1333
=
19.27
.0167
= 1153.89
Earnings per share: 푁푒푡 푖푛푐표푚푒
푂푢푡푠푡푎푛푑푖푛푔 푠ℎ푎푟푒
= 137.52 푚푖푙푙푖표푛
300 푚푖푙푙푖표푛
= .46
P/E rate = 푆ℎ푎푟푒 푝푟푖푐푒
퐸푎푟푛푖푛푔푠 푝푒푟 푠ℎ푎푟푒
= 17
.46
= 37.08

5. One-year holding period:
So =
퐷1
1+푘
+
푆1
1+푘
=
퐷표 1+푔
1+푘
+
푆1
1+푘
=
40(1+.64)
1+.15
+
2000
1+.15
= 57.04+1739.13
= 1796.17
Date Price
Aug, 3-14 1898 tk
Aug, 1-13 1820 tk
Aug, 1-12 1683 tk
S1 = 2000 , D0=40
Rate of return required by the investor k = 15%
Growth Rate:
푃푟푒푠푒푛푡 푦푒푎푟 푑푒푣푒푑푛푑−푃푟푒푣푖표푢푠 푦푒푎푟 푑푒푣푒푑푒푛푑
푃푎푠푡 푦푒푎푟 푑푒푣푒푑푒푛푑
G =
2013−2012
2012
=
40−25
25
= 0.6%
G =
2012−2011
2011
=
25−15
15
= 0.67%
Average rate =
.6+.67
2
= 0.64%
ICB ( Investment corporation of Bangladesh

6. Multiple year holding period
So=
퐷1
1+푘 1 +
퐷2
1+푘 2 +
퐷3
1+푘 3 +
퐷4
1+푘 4 +
퐷5
1+푘 5 +
퐷푛+푆푛
1+푘 푛
=
40(1+.64)1
1+0.15 1 +
40(1+.64)2
1+0.15 2 +
40(1+.64)3
1+0.15 3 +
40(1+.64)4
1+0.15 4 +
40(1+.64)5
1+0.15 5 +
235.93+2000
1+0.15 5
= 57.04+81.34+116.01+165.44+235.93+1111.65
= 1767.41

7. Constant growth rate:
퐷0(1+g)
(푘−푔)
=
So=
40(1+.64)
0.15−.64
=
65.6
−0.49
= -133.88
Earnings per share =
푁푒푡 푖푛푐표푚푒
푂푢푡푠푡푎푛푑푖푛푔 푠ℎ푎푟푒
= 3764.24 푚푖푙푙푖표푛
100 푚푖푙푙푖표푛
= 37.64
P/E rate =
푆ℎ푎푟푒 푝푟푖푐푒
퐸푎푟푛푖푛푔푠 푝푒푟 푠ℎ푎푟푒
= 40
37.64
= 1.06

8. Internal Leasing and financial service Ltd.
One-year holding period:
So=
퐷1
1+푘
+
푆1
1+푘
=
퐷표 1+푔
1+푘
+
푆1
1+푘
=
5(1+0)
1+.15
+
8
1+.15
= 4.35+6.96
= 11.30
Date Price
Aug, 3-14 10.9 tk
Aug, 1-13 12.5 tk
Aug, 1-12 21 tk
S1 = 8 ,D0=5
Rate of return required by the investor k = 15%
Growth Rate:
푃푟푒푠푒푛푡 푦푒푎푟 푑푒푣푒푑푛푑−푃푟푒푣푖표푢푠 푦푒푎푟 푑푒푣푒푑푒푛푑
푃푎푠푡 푦푒푎푟 푑푒푣푒푑푒푛푑
G =
2014−2013
2013
=
5−5
5
= 0%
This company give last two years dividend.

9. Multiple year holding period:
So=
퐷1
1+푘 1 +
퐷2
1+푘 2 +
퐷3
1+푘 3 +
퐷4
1+푘 4 +
퐷5
1+푘 5 +
퐷푛+푆푛
1+푘 푛
=
5(1+0)1
1+0.15 1 +
5(1+0)2
1+0.15 2 +
5(1+0)3
1+0.15 3 +
5(1+0)4
1+0.15 4 +
5(1+0)5
1+0.15 5 +
2.48+8
1+0.15 5
= 4.35+3.78+3.28+2.86+2.48+5.21
= 21.96

10. Constant growth rate:
퐷0(1+g)
(푘−푔)
=
So=
5(1+0)
0.15−0
= 33.33
Earnings per share: 푁푒푡 푖푛푐표푚푒
푂푢푡푠푡푎푛푑푖푛푔 푠ℎ푎푟푒
= 116.74 푚푖푙푙푖표푛
200 푚푖푙푙푖표푛
= 0.58
P/E rate = 푆ℎ푎푟푒 푝푟푖푐푒
퐸푎푟푛푖푛푔푠 푝푒푟 푠ℎ푎푟푒
= 5
0.58
= 8.62

11. Industrial prom. and Dev. Co. of. BD.Ltd
One-year holding period:
So=
퐷1
1+푘
+
푆1
1+푘
=
퐷표 1+푔
1+푘
+
푆1
1+푘
=
5{1+ −0.5 }
1+.15
+
14
1+.15
= 2.17 + 12.17
= 14.34
S1 = 14 , D0=5
Rate of return required by the investor k = 15%
Date Price
Aug, 3-14 15.0 tk
Aug, 1-13 16.6 tk
Aug, 1-12 17.6 tk
G =
2013−2012
2012
=
5−10
10
= - 0.5
This company only give last two year dividend

12. Multiple year holding period:
So=
퐷1
1+푘 1 +
퐷2
1+푘 2 +
퐷3
1+푘 3 +
퐷4
1+푘 4 +
퐷5
1+푘 5 +
퐷푛+푆푛
1+푘 푛
=
5{1+ −0.5 }1
1+0.15 1 +
5{1+ −0.5 }2
1+0.15 2 +
5{1+ −0.5 }3
1+0.15 3 +
5{1+ −0.5 }4
1+0.15 4 +
5{1+ −0.5 }5
1+0.15 5 +
0.08+14
1+0.15 5
= 2.17 + 0.95 + 0.41 + 0.18 + 0.08 + 7
= 10.79

13. Constant growth rate:
퐷0(1+g)
(푘−푔)
=
So=
5{1+ −0.05 }
0.15+(−0.05)
=
2.5
−0.35
= -7.14
Earnings per share: 푁푒푡 푖푛푐표푚푒
푂푢푡푠푡푎푛푑푖푛푔 푠ℎ푎푟푒
= 141.98 푚푖푙푙푖표푛
400 푚푖푙푙푖표푛
= .35
P/E rate =
푆ℎ푎푟푒 푝푟푖푐푒
퐸푎푟푛푖푛푔푠 푝푒푟 푠ℎ푎푟푒
= 5
.35
= 14.08

14. United leasing
One-year holding period:
So =
퐷1
1+푘
+
푆1
1+푘
=
퐷표 1+푔
1+푘
+
푆1
1+푘
=
5{1+ −.33 }
1+.15
+
17.2
1+.15
= 3.91+14.96
= 17.87
Date Price
Aug, 3-14 22.4 tk
Aug, 1-13 27.4 tk
Aug, 1-12 31.8 tk
S1 = 17 , D0=5
Rate of return required by the investor k = 15%
G =
2014−2013
2013
=
5−5
5
= 0%
G =
2013−2012
2012
=
5−7.5
7.5
= -0.33%

15. Multiple year holding periods:
So=
퐷1
1+푘 1 +
퐷2
1+푘 2 +
퐷3
1+푘 3 +
퐷4
1+푘 4 +
퐷5
1+푘 5 +
퐷푛+푆푛
1+푘 푛
5{1+(−.33)}1
=
1+0.15 1 +
5{1+(−.33)}2
1+0.15 2 +
5{1+(−.33)}3
1+0.15 3 +
5{1+(−.33)}4
1+0.15 4 +
5{1+(−.33)}5
1+0.15 5 +
.33+17.2
1+0.15 5
= 3.91+1.69+.99+.58+.33+8.72
= 15.22

16. Constant growth rate:
퐷0(1+g)
(푘−푔)
=
So=
5{1+ −.33 }
0.15−(−.33)
=
3.35
.48
= 6.98
Earnings per share: 푁푒푡 푖푛푐표푚푒
푂푢푡푠푡푎푛푑푖푛푔 푠ℎ푎푟푒
= 266.42 푚푖푙푙푖표푛
300 푚푖푙푙푖표푛
= .89
P/E rate = 푆ℎ푎푟푒 푝푟푖푐푒
퐸푎푟푛푖푛푔푠 푝푒푟 푠ℎ푎푟푒
= 5
.89
= 5.63

17. Delta Brac housing finance corp.
Ltd.
One-year holding period:
So=
퐷1
1+푘
+
푆1
1+푘
=
퐷표 1+푔
1+푘
+
푆1
1+푘
=
25(1+1.5)
1+.15
+
56
1+.15
= 54.35+48.69
= 103.04
S1 = 56, D0=25
Rate of return required by the investor k = 15%
Date Price
Aug, 3-14 58 tk
Aug, 1-13 58.9 tk
Aug, 1-12 75.5 tk
Growth Rate:
푃푟푒푠푒푛푡 푦푒푎푟 푑푒푣푒푑푛푑−푃푟푒푣푖표푢푠 푦푒푎푟 푑푒푣푒푑푒푛푑
푃푎푠푡 푦푒푎푟 푑푒푣푒푑푒푛푑
G =
2013−2012
2012
=
25−10
10
= 1.5%

18. Multiple year holding period:
So=
퐷1
1+푘 1 +
퐷2
1+푘 2 +
퐷3
1+푘 3 +
퐷4
1+푘 4 +
퐷5
1+푘 5 +
퐷푛+푆푛
1+푘 푛
=
25(1+1.5)1
1+0.15 1 +
25(1+1.5)2
1+0.15 2 +
25(1+1.5)3
1+0.15 3 +
25(1+1.5)4
1+0.15 4 +
25(1+1.5)5
1+0.15 5 +
1213.81+56
1+0.15 5
= 54.35+118.14+256.84+558.35+1213.8+631.32
= 2832.81

19. Constant growth rate:
퐷0(1+g)
(푘−푔)
=
So=
5(1+1.5)
0.15−1.5
=
12.5
−1.35
= -9.26
Earnings per share:
푁푒푡 푖푛푐표푚푒
푂푢푡푠푡푎푛푑푖푛푔 푠ℎ푎푟푒
= 518.48 푚푖푙푙푖표푛
200 푚푖푙푙푖표푛
=2.59
P/E rate =
푆ℎ푎푟푒 푝푟푖푐푒
퐸푎푟푛푖푛푔푠 푝푒푟 푠ℎ푎푟푒
= 25
2.59
= 9.65

20. Bangladesh industrial finance. co.Ltd
One-year holding period:
So =
퐷1
1+푘
+
푆1
1+푘
=
퐷표 1+푔
1+푘
+
푆1
1+푘
=
5{1+ −.5 }
1+.15
+
16
1+.15
= 2.17+13.91
= 16.08
Date Price
Aug, 3-14 14.7 tk
Aug, 1-13 13.3 tk
Aug, 1-12 28.4 tk
S1 = 16 , D0=5
Rate of return required by the investor k = 15%
Growth Rate:
푃푟푒푠푒푛푡 푦푒푎푟 푑푒푣푒푑푛푑−푃푟푒푣푖표푢푠 푦푒푎푟 푑푒푣푒푑푒푛푑
푃푟푒푣푖표푢푠 푦푒푎푟 푑푒푣푒푑푒푛푑
G =
2014−2013
2013
=
5−5
5
= 0%
G =
2013−2012
2012
=
5−10
10
= -0.5%

21. Multiple year holding periods:
So=
퐷1
1+푘 1 +
퐷2
1+푘 2 +
퐷3
1+푘 3 +
퐷4
1+푘 4 +
퐷5
1+푘 5 +
퐷푛+푆푛
1+푘 푛
=
5{1+(−0.5)}1
1+0.15 1 +
5{1+(−0.5)}2
1+0.15 2 +
5{1+(−0.5)}3
1+0.15 3 +
5{1+(−0.5)}4
1+0.15 4 +
5{1+(−0.5)}5
1+0.15 5 +
0.07+16
1+0.15 5
= 2.17+.94+.41+.18+.07+8
= 11.76

22. Constant growth rate:
퐷0(1+g)
(푘−푔)
=
So=
5{1+(−0.5)}
0.15−(−0.5)
=
2.5
.65
= 3.84
Earnings per share:
푁푒푡 푖푛푐표푚푒
푂푢푡푠푡푎푛푑푖푛푔 푠ℎ푎푟푒
= 45.51 푚푖푙푙푖표푛
200 푚푖푙푙푖표푛
= .23
P/E rate = 푆ℎ푎푟푒 푝푟푖푐푒
퐸푎푟푛푖푛푔푠 푝푒푟 푠ℎ푎푟푒
= 5
.23
= 21.74

23. Uttara Finance
One-year holding period:
So =
퐷1
1+푘
+
푆1
1+푘
=
퐷표 1+푔
1+푘
+
푆1
1+푘
=
30(1+0.5)
1+.15
+
55
1+.15
= 39.13+47.83
= 89.95
Date Price
Aug, 3-14 66 tk
Aug, 1-13 74.1 tk
Aug, 1-12 85.8 tk
S1 = 55 , D0=30
Rate of return required by the investor k = 15%
Growth Rate: 푃푟푒푠푒푛푡 푦푒푎푟 푑푒푣푒푑푛푑−푃푟푒푣푖표푢푠 푦푒푎푟 푑푒푣푒푑푒푛푑
푃푟푒푣푖표푢푠 푦푒푎푟 푑푒푣푒푑푒푛푑
G =
2013−2012
2012
=
30−20
20
= 0.5%
The company provide last two years dividend.

24. Multiple year holding periods:
So=
퐷1
1+푘 1 +
퐷2
1+푘 2 +
퐷3
1+푘 3 +
퐷4
1+푘 4 +
퐷5
1+푘 5 +
퐷푛+푆푛
1+푘 푛
=
30(1+0.5)1
1+0.15 1 +
30(1+0.5)2
1+0.15 2 +
30(1+0.5)3
1+0.15 3 +
30(1+0.5)4
1+0.15 4 +
30(1+0.5)5
1+0.15 5 +
113.27+55
1+0.15 5
= 39.13+51.03+66.57+86.84+113.27+83.6
= 440.50

25. Constant growth rate:
퐷0(1+g)
(푘−푔)
=
So=
30(1+0.5)
0.15−0.5
=
45
−.35
= -128.57
Earnings per share: 푁푒푡 푖푛푐표푚푒
푂푢푡푠푡푎푛푑푖푛푔 푠ℎ푎푟푒
= 852.83 푚푖푙푙푖표푛
500 푚푖푙푙푖표푛
= 1.70
P/E rate = 푆ℎ푎푟푒 푝푟푖푐푒
퐸푎푟푛푖푛푔푠 푝푒푟 푠ℎ푎푟푒
= 60
1.70
= 35.17

26. Prime finance and Investment Ltd.
One-year holding period:
So =
퐷1
1+푘
+
푆1
1+푘
=
퐷표 1+푔
1+푘
+
푆1
1+푘
=
15(1+0.5)
1+.15
+
8.2
1+.15
= 19.57+7.13
= 26.70
Date Price
Aug, 3-14 16.9 tk
Aug, 1-13 25.3 tk
Aug, 1-12 46.1 tk
S1 = 8.2 , D0=15
Rate of return required by the investor k = 15%
Growth Rate:
푃푟푒푠푒푛푡 푦푒푎푟 푑푒푣푒푑푛푑−푃푟푒푣푖표푢푠 푦푒푎푟 푑푒푣푒푑푒푛푑
푃푟푒푣푖표푢푠 푦푒푎푟 푑푒푣푒푑푒푛푑
G =
2013−2012
2012
=
15−10
10
= 0.5%
The company provide only last two years dividend

27. Multiple year holding periods:
So=
퐷1
1+푘 1 +
퐷2
1+푘 2 +
퐷3
1+푘 3 +
퐷4
1+푘 4 +
퐷5
1+푘 5 +
퐷푛+푆푛
1+푘 푛
=
15(1+0.5)1
1+0.15 1 +
15(1+0.5)2
1+0.15 2 +
15(1+0.5)3
1+0.15 3 +
15(1+0.5)4
1+0.15 4 +
15(1+0.5)5
1+0.15 5 +
56.63+8.2
1+0.15 5
= 19.57+25.51+33.29+43.42+56.63+32.23
= 210.65

28. Constant growth rate:
퐷0(1+g)
(푘−푔)
=
So=
15(1+0.5)
0.15−0.5
=
22.5
−.35
= -64.29
Earnings per share: 푁푒푡 푖푛푐표푚푒
푂푢푡푠푡푎푛푑푖푛푔 푠ℎ푎푟푒
= 299 푚푖푙푙푖표푛
300 푚푖푙푙푖표푛
= 0.997
P/E rate = 푆ℎ푎푟푒 푝푟푖푐푒
퐸푎푟푛푖푛푔푠 푝푒푟 푠ℎ푎푟푒
= 16.9
0.997
= 16.95

29. Bangladesh Finance and Investment co. Ltd
One-year holding period:
So =
퐷1
1+푘
+
푆1
1+푘
=
퐷표 1+푔
1+푘
+
푆1
1+푘
=
10(1+0)
1+.15
+
11
1+.15
= 8.69+9.56
= 18.25
Date Price
Aug, 3-14 16.9 tk
Aug, 1-13 25.3 tk
Aug, 1-12 46.1 tk
S1 = 11 , D0=10
Rate of return required by the investor k = 15%
Growth Rate:
푃푟푒푠푒푛푡 푦푒푎푟 푑푒푣푒푑푛푑−푃푟푒푣푖표푢푠 푦푒푎푟 푑푒푣푒푑푒푛푑
푃푟푒푣푖표푢푠 푦푒푎푟 푑푒푣푒푑푒푛푑
G =
2013−2012
2012
=
10−10
10
= 0%
Average growth rate = 0%
G =
2012−2011
2011
=
10−10
10
= 0%

30. Multiple year holding periods:
So=
퐷1
1+푘 1 +
퐷2
1+푘 2 +
퐷3
1+푘 3 +
퐷4
1+푘 4 +
퐷5
1+푘 5 +
퐷푛+푆푛
1+푘 푛
=
10(1+0)1
1+0.15 1 +
10(1+0)2
1+0.15 2 +
10(1+0)3
1+0.15 3 +
10(1+0)4
1+0.15 4 +
10(1+0)5
1+0.15 5 +
74.97+11
1+0.15 5
= 8.69+7.56+6.57+5.71+4.97+7.94
= 41.45

31. Constant growth rate:
퐷0(1+g)
(푘−푔)
=
So=
10(1+0)
0.15−0
=
10
0.15
= 66.66
Earnings per share: 푁푒푡 푖푛푐표푚푒
푂푢푡푠푡푎푛푑푖푛푔 푠ℎ푎푟푒
= 93.39 푚푖푙푙푖표푛
200 푚푖푙푙푖표푛
= .47
P/E rate =
푆ℎ푎푟푒 푝푟푖푐푒
퐸푎푟푛푖푛푔푠 푝푒푟 푠ℎ푎푟푒
= 10
.47
= 21.41

32. Comparison of companies
 We are working on 10 investment companies of DSE. And we are
finding that ICB Company is the best company in the investment
sector. Because of the companies sell price is decreased day by day,
their selling price are fall in but ICB’s selling price is high day by day.
 Other hand ICB gives higher rate of dividend. Their dividend rate also
increased year by year.