The Financial Express

Shahjalal Islami Bank declares 12pc dividend

The bank to issue Tk 5.0b perpetual bond

| Updated: March 13, 2021 09:59:43

Shahjalal Islami Bank declares 12pc dividend

The board of directors of Shahjalal Islami Bank has recommended 7.0 per cent cash and 5.0 per cent stock dividend for the year ended on December 31, 2020.

The annual general meeting (AGM) will be held on April 28 at 11:00 am using the digital platform. The record date is on April 04.

The bank has also reported consolidated EPS of Tk 1.95, consolidated NAV per share of Tk 18.33 and consolidated NOCFPS of Tk 17.19 for the year ended on December 31, 2020, as against Tk 1.70, Tk 16.86 and Tk 9.20 respectively for the same period of the previous year.

The bank has also informed that the bonus share was declared out of accumulated profit and not declared from the capital reserve or revaluation reserve or any unrealised gain or out of profit earned prior to incorporation of the company or through reducing paid up capital or through doing anything so that the post dividend retained earnings become negative or a debit balance.

The retained amount of profit will be utilised for the expansion of business to strengthen the capital base of the bank.

The board of directors of the bank has also taken a decision to raise Tk 5.0 billion through the issuance of contingent-convertible, BASEL-III compliant SJIBL Mudaraba Perpetual Bond as part of Additional Tier-1 Capital through private placement subject to the approval of the regulatory authorities as well as the approval of the shareholders in the 20th AGM of the bank scheduled for April 28.

There will be no price limit on the trading of the shares of the bank today following its corporate declaration; however, as per the BSEC order dated March 19, 2020, the floor price shall be applicable accordingly.

Each share of the bank, which was listed on the Dhaka Stock Exchange in 2007, closed at Tk 21.20 on Wednesday.

In 2019, the bank disbursed 5.0 per cent cash and 5.0 per cent stock dividend.

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