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The Financial Express

Three listed banks recommend dividend  

FE Report | Published: April 05, 2020 09:43:55 | Updated: April 07, 2020 08:56:48


Representational image (Collected) Representational image (Collected)

Three listed banks have recommended dividend ranging between 10 per cent and 16 per cent for the year ended on December 31, 2019.

Of three banks, one witnessed rise in EPS (earnings per share) while the EPS of two others declined for the period ended on December 31, 2019.

The board of directors of Mercantile Bank has recommended 11 per cent cash and 5.0 per cent stock dividend for the year ended on December 31, 2019.

The company has also reported consolidated EPS of Tk. 3.01, consolidated NAV per share of Tk. 22.96 and consolidated NOCFPS of Tk. 2.23 for the year ended on December 31, 2019 as against Tk. 3.12 (restated), Tk. 22.91 and Tk. 2.04 respectively for the same period of the previous year.

Bank Asia has recommended 10 per cent cash for the year ended on December 31, 2019.

The company has also reported consolidated EPS of Tk. 1.68, consolidated NAV per share of Tk. 21.09 and consolidated NOCFPS of Tk. 22.94 for the year ended on December 31, 2019 as against Tk. 1.92 (restated), Tk. 19.89 and Tk. 3.00 respectively for the same period of the previous year.

Bank Asia also has informed that NOCFPS has been increased mainly due to deposit inflow in terms of previous year.

The board of directors of Standard Bank has recommended 5.0 per cent cash and 5.0 per cent stock dividend for the year ended on December 31, 2019.

The bank has also reported consolidated EPS of Tk. 1.57, consolidated NAV per share of Tk. 16.96 and consolidated NOCFPS of Tk. 9.91 for the year ended on December 31, 2019 as against Tk. 1.31, Tk. 15.46 and Tk. 2.45 respectively for the same period of the previous year.

The company also informed that bonus shares are not declared from capital reserve or revaluation reserve or any unrealised gain or out of profit.

According a corporate disclosure, the bank's board has also decided to amend the relevant clauses/articles of the Memorandum and Articles of Association of the Company for conversion of conventional banking into full-fledged Islamic Banking subject to approval from shareholders, prior permission from Bangladesh Bank and High Court Division of the Supreme Court.

mufazzal.fe@gmail.com

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