Eastern Bank approves 20pc cash dividend

FE Online Desk | Published: June 05, 2018 16:20:01 | Updated: June 07, 2018 15:28:07


Eastern Bank limited (EBL) has approves 20 per cent cash dividend for the year ending on December 31, 2017.

The approval was given at its 26th annual general meeting (AGM) held at Police Convention Hall in the capital city Tuesday.

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Ghaziul Haque, chairman of the board of directors of the company, presided over the meeting, while the bank directors: Mir Nasir Hossain, A.M. Shaukat Ali, Md. Showkat Ali Chowdhury, Anis Ahmed, Meah Mohammed Abdur Rahim, Mufakkharul Islam Khasru, Gazi Md. Shakhawat Hossain, and Managing Director and CEO Ali Reza Iftekhar, DMD with Company Secretary Safiar Rahman among others were present.

Mr Haque presented the directors’ report and financial statements for the year 2017 in front of the shareholders and replied to their various queries, according to a statement.

The shareholders appreciated the board and management for the financial performance of the bank during the challenging environment.

They expressed their satisfaction over declaring good dividend for the year 2017, which is one of the highest among similar sized (in terms of paid-up capital) commercial banks of the country.

Earlier, the EBL recommended 20 per cent cash dividend for the year on 25th April.

The bank has also reported consolidated EPS of Tk. 3.29, consolidated NAV per share of Tk 29.64 and consolidated NOCFPS of minus Tk 9.21 for the year ended on December 31, 2017 as against Tk 3.68, Tk 28.23 and minus Tk 7.63 respectively for the same period of the previous year.

In 2016, the EBL which was listed on the Dhaka bourse in 1993 disbursed 20 per cent cash and 5.0 per cent stock dividend.

The bank’s paid-up capital is Tk 7.38 billion and authorised capital is Tk 12 billion while the total number of securities is 737.99 million, according to DSE website.

The sponsor-directors own 31.56 per cent stake in the bank, while the institutional investors own 43.51 per cent, foreign 0.51 per cent and the general public 24.42 per cent as on March 31, 2018.

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