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The board of directors of IFIC Bank Limited has recommended 12 per cent stock dividend for the year ended on December 31, 2017, said an official disclosure on Wednesday.
The final approval of the dividend will come during the Annual General Meeting (AGM) scheduled to be held on June 24 in the capital city.
The record date for entitlement of dividend is May 10.
The bank has also reported consolidated earnings per share (EPS) of Tk 2.34, consolidated net asset value (NAV) per share of Tk 18.49 and consolidated net operating cash flow per share (NOCFPS) of 1.31 for the year ended on December 31, 2017 as against Tk 1.79 (restated), Tk 24.69 and Tk 1.23 respectively for the same period of the previous year.
In 2016, the bank disbursed 12 per cent cash dividend.
There will be no price limit on the trading of the shares of the bank today (Wednesday) following its corporate declaration.
Each share of the bank, which was listed on the Dhaka bourse in 1986 closed at Tk 15.70 on Tuesday at the Dhaka Stock Exchange (DSE).
The bank’s paid-up capital is Tk 11.95 billion and authorised capital is Tk 20 billion while the total number of securities is 1.19 billion.
The sponsor-directors own 5.92 per cent stake in the bank, while the government owns 32.75 per cent, institutional investors 21.86 per cent, foreign 1.92 per cent and the general public 37.55 per cent as on March 29, 2018, the DSE data shows.