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The Financial Express

City Bank declares 17.50pc cash, 5.0pc stock dividend

| Updated: March 25, 2021 08:41:36


City Bank declares 17.50pc cash, 5.0pc stock dividend

The board of directors of The City Bank Ltd has recommended 17.50 per cent cash and 5.0 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 for May 19 through hybrid system – combination of physical presence and using digital platform and time will be notified later on.

The record date is April 13, the bank said in a filing with the Dhaka Stock Exchange (DSE) on Tuesday.

The bank has also reported consolidated EPS of Tk 4.29, consolidated NAV per share of Tk 29.03 and consolidated NOCFPS of Tk 4.90 for the year ended on December 31, 2020 as against Tk 2.59, Tk 24.14 and Tk 13.47 respectively for the same period of the previous year.

The company has also informed that the board of the bank has recommended 17.50 per cent cash and 5.0 per cent stock for complying with Bangladesh Bank’s issued dividend policy for banks, maintaining minimum dilution of earnings and net assets value per share and keeping bank’s capital of risk weighted asset ratio strong for future business growth.

Each share of the bank, which was listed on the DSE in 1986, closed at Tk 25.70 on Monday. Its shares traded between Tk 16.20 and Tk 33.60 in the last one year.

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

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

The sponsor-directors own 32.88 per cent stake in the bank, while the institutional investors own 21.46 per cent, foreign investors 3.91 per cent and the general public 41.75 per cent as on February 28, 2021, the DSE data show.

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