The Financial Express

Mutual Trust Bank declares 10pc stock dividend

| Updated: May 10, 2021 12:04:50

Mutual Trust Bank declares 10pc stock dividend

The board of directors of Mutual Trust Bank has recommended a 10 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 June 24 at 11:30 am using the digital platform.

The record date is set for May 31, the bank said in a filing with the Dhaka Stock Exchange (DSE) on Wednesday.

The bank has also reported consolidated earnings per share (EPS) of Tk 1.31, consolidated net asset value (NAV) per share of Tk 23.03 and consolidated net operating cash flow per share (NOCFPS) of negative Tk 0.11 for the year ended on December 31, 2020, as against Tk 1.81, Tk 22.05 and Tk 12.02 respectively for the same period of the previous year.

The bank has also disclosed the first quarter (Q1) unaudited consolidated financial statements for the period ended on March 31, 2021, on Wednesday.

As per the Q1 financial statements, its consolidated EPS was Tk 0.81 for January-March 2021 as against Tk 0.72 for January-March 2020.

In 2019, the bank had disbursed 5.0 per cent cash and 5.0 per cent stock dividend.

Each share of the bank, which was listed on the DSE in 2003, closed at Tk 18.30 on Tuesday. Its shares traded between Tk 17.50 and Tk 27 in the last year.

The bank’s paid-up capital is Tk 7.38 billion and authorised capital is Tk 10 billion, while the total number of securities is 738.63 million.

The sponsor-directors own 43.97 per cent stake in the bank while the institutional investors own 24.20 per cent, foreign investors 0.16 per cent and the general public 31.67 per cent as on March 31, 2021, the DSE data show.

There will be no price limit on the trading of the shares of the bank today following its corporate declaration.

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