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The Financial Express

City Bank declares 15pc cash dividend

Record date for entitlement of dividend on July 13


FE ONLINE REPORT | Published: June 23, 2020 10:02:15 | Updated: June 24, 2020 11:00:49


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The City Bank Ltd has recommended 15 per cent cash dividend for the year ended on December 31, 2019.

The board of directors of the bank in a virtual meeting held on Monday approved the audited financial statements for the year ended on December 31, 2019 and recommended the dividend.

The final approval of the dividend will come during the annual general meeting (AGM) scheduled to be held on August 13 at 2:30 pm through digital platform.

The record date for entitlement of the dividend is July 13.

The bank has reported consolidated earnings per share (EPS) of Tk 2.59 for the year ended on December 31, 2019 which was Tk 2.19 in the previous year.

Its consolidated net asset value (NAV) per share was Tk 24.14 for the year ended on December 31, 2019 as against Tk 24.52 of the previous year.

The bank’s net operating cash flow per share (NOCFPS) was Tk 13.47 for the year ended on December 31, 2019, which was Tk 13.61 in the previous year.

In 2018, the bank disbursed 6.0 per cent cash and 5.0 per cent stock dividend.

Each share of the bank, which was listed on the Dhaka bourse in 1986, closed at Tk 16.20 on Monday.

In the last one year, its share traded between Tk 14.80 and Tk 29.70 per share.

The bank’s paid-up capital is Tk 10.16 billion, authorised capital is Tk 15 billion and the total number of securities is 1.01 billion.

Sponsor-directors own 27.92 per cent stake in the bank while institutional investors own 20.64 per cent, foreign investors 9.54 per cent and general public 41.90 per cent as on February 29, 2020, the DSE data showed.

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