The board of directors of Premier Bank Limited has decided to issue additional non-convertible subordinated bond of Tk 5.0 billion, said an official disclosure on Thursday.
The bank will issue the bond only for raising fund to have regulatory capital support of the bank under Tier-2 category of BASEL III, according to the disclosure.
The issuing of bonds is subject to the approval of the regulatory authorities — Bangladesh Bank (BB) and Bangladesh Securities and Exchange Commission (BSEC), the disclosure added further.
Each share of the bank, which was listed on the Dhaka Stock Exchange (DSE) in 2007, closed at Tk 11 on Wednesday.
Its share traded between Tk 9.70 and Tk 17.70 in the last one year.
The bank’s consolidated earnings per share (EPS) stood at Tk 0.57 for January-March period of 2019 as against Tk 0.39 for January-March period of 2018.
The consolidated net operating cash flow per share (NOCFPS) was Tk 0.66 for January-March 2019 as against Tk 0.64 for the same period last year.
The consolidated net asset value (NAV) per share was Tk 19.83 as on March 31, 2019 and Tk 16.79 as on March 31, 2018.
The bank has recommended 15.50 per cent stock dividend for the year ended on December 31, 2018.
The final approval of recommended dividend will come during the annual general meeting scheduled to be held on May 12 at 10:30am at the International Convention City Bashundhara in Dhaka.
In 2017, the bank disbursed 15 per cent stock dividend.
The bank’s paid-up capital is Tk 8.0 billion and authorised capital is Tk 10 billion, while the number of securities is 800 million.
The sponsor-directors own 35.22 per cent stake in the bank, while institutional investors own 17.06 per cent, and the general public 47.72 per cent as on March 31, 2019.