Dutch-Bangla Bank recommends 150pc stock dividend

The bank to raise authorised capital to Tk 5.0b

FE Online Report | Published: March 13, 2019 11:36:08 | Updated: March 14, 2019 11:26:15

The board of directors of Dutch-Bangla Bank Ltd (DBBL) has recommended 150 per cent stock dividend for the year ended on December 31, 2018, said an official disclosure on Wednesday.

The board has also decided to increase authorised capital from Tk 4.0 billion to Tk 5.0 billion and accordingly, amendments of the Memorandum and Articles of Association of the Company subject to approval of Bangladesh Bank & shareholders in the EGM.

The EGM and AGM will be held on April 29 at 10:00am and 10:30am respectively in The Ball Room of Pan Pacific Sonargaon Hotel, Dhaka.

The record date for EGM & AGM is April 07.

The bank has also reported consolidated EPS of Tk 21.01, consolidated NAV per share of Tk 115.43, and consolidated NOCFPS of Tk. 25.34 for the year ended on December 31, 2018 as against Tk. 12.28, Tk. 97.41, and Tk. 58.66 respectively for the same period of the previous year.

In 2017, the bank also disbursed 30 per cent cash dividend.

There will be no price limit on the trading of the shares of the company today (Wednesday) following its corporate declaration.

Each share of the bank, which was listed on the Dhaka bourse in 2001, closed at Tk 189 on Tuesday, soaring 9.95 per cent over the previous day at the DSE.

The bank’s paid-up capital is Tk 2.0 billion and authorised capital is Tk 4.0 billion, while the total number of securities is 200 million.

The sponsor-directors own 87 per cent stake in the bank, while institutional investors own 5.44 per cent, foreign investors 0.06 per cent, and general public 7.50 per cent as on February 28, 2019, the DSE data shows.


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