Eastern Bank declares 17.50pc cash, 17.50pc stock dividend

FE ONLINE REPORT | Tuesday, 13 April 2021

The board of directors of Eastern Bank has recommended 17.50 per cent cash and 17.50 per cent stock dividend for the year ended on December 31, 2020.

The final approval of the dividend will come during the annual general meeting (AGM) scheduled to be held on May 30 at 11:00 am through the digital platform.

The record date is set for May 5, the company said in a filing with the Dhaka Stock Exchange (DSE) on Tuesday

The bank has also reported consolidated EPS of Tk 5.15, consolidated NAV per share of Tk 36.28 and consolidated NOCFPS of Tk 7.42 for the year ended on December 31, 2020, as against Tk 4.92, Tk 31.98 and Tk 23.64 respectively for the same period of the previous year.

The bank has also informed that the board recommended stock dividend to strengthen the capital base of the bank in order to support its projected business growth and also to improve certain regulatory ratios.

In 2019, the bank disbursed 15 per cent cash dividend.

There will be no price limit on the trading of the shares of the bank today following its corporate declaration; however, as per the BSEC order dated March 19, 2020, the floor price shall be applicable accordingly.

Each share of the bank, which was listed on the DSE in 1993, closed at Tk 38.40 on Monday.

The bank’s shares traded between Tk 30.90 and Tk 40.80 in the past year.

The company’s paid-up capital is Tk 8.11 billion and authorised capital is Tk 12 billion, while the total number of securities is 811.79 million.

The sponsor-directors own 30.18 per cent stake in the bank while the institutional investors own 45.28 per cent, foreign investors 0.61 per cent and the general public 23.93 per cent as on February 28, 2021, the DSE data show.

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