Prime Bank recommends 17pc dividend

| Updated: April 12, 2018 11:21:44

Prime Bank recommends 17pc dividend

The board of directors of Prime Bank Limited has recommended 7.0 per cent cash and 10 per cent stock dividend for the year ended on December 31, 2017.

The final approval of the dividend will come during the annual general meeting scheduled to be held on May 24 in Dhaka, said an official disclosure on Wednesday.

The record date for entitlement of dividend is May 6.

The bank has also reported consolidated earnings per share (EPS) of Tk 1.18 (weighted), consolidated net asset value (NAV) per share of Tk 24.11 and consolidated net operating cash flow per share (NOCFPS) of 7.27 for the year ended on December 31, 2017 as against Tk 2.13 (weighted), Tk 24.57 and Tk 4.05 respectively for the same period of the previous year.

In 2016, the bank disbursed 16 per cent cash dividend.

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

Each share of the bank, which was listed on the Dhaka bourse in 2000 closed at Tk 19.70 on Tuesday at the Dhaka Stock Exchange (DSE).

The bank’s paid-up capital is Tk 10.29 billion and authorised capital is Tk 25 billion while the total number of securities is 1.02 billion.

The sponsor-directors own 38.04 per cent stake in the bank, while the institutional investors 24.14 per cent, foreign 3.74 per cent and the general public 34.08 per cent as on February 28, 2018, the DSE data shows.

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