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The board of directors of Eastern Bank Ltd has unanimously decided to issue non-convertible subordinated bond of Tk 5.0 billion, said an official disclosure on Monday.
The bank is going to issue the bond for strengthening the capital base of the bank, subject to the approval of Bangladesh Bank and the Bangladesh Securities & Exchange Commission (BSEC), said the disclosure.
The characteristics of the bond is non-convertible, non-listed and redeemable and name of the bond is ‘2nd Subordinated Bond of EBL’ up to Tk 5.0 billion. The tenure of the bond will be 7 years.
Each share of the bank, which was listed on the Dhaka bourse in 1993, closed at Tk 35.20 on Sunday at Dhaka Stock Exchange.
The bank’s paid-up capital is Tk 7.38 billion and authorised capital is Tk 12 billion while total number of securities is 737.99 million, according to statistics from the DSE.
Sponsor-directors own 31.56 per cent stake in the bank while institutional investors own 43.42 per cent, foreign 0.51 per cent and the general public 24.51 per cent as on June 30, 2018.
The bank has reported consolidated earnings per share (EPS) of Tk 1.14 for April-June, 2018 as against Tk 1.04 for April-June, 2017.
In six months for January-June, 2018, consolidated EPS was Tk 1.83 as against Tk 2.31 for January-June, 2017.
The consolidated net operating cash flow per share (NOCFPS) was Tk 10.47 for January-June 2018 as against Tk 1.98 for January-June 2017.
The consolidated net asset value (NAV) per share was Tk 29.25 as on June 30, 2018 and Tk 28.64 as on June 30, 2017.
The bank disbursed 20 per cent cash dividend for the year ended on December 31, 2017. In 2016, the bank disbursed 20 per cent cash and 5.0 per cent stock dividend.