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The Financial Express

UCB declares 10pc dividend for 2020

| Updated: June 10, 2021 11:02:53


UCB declares 10pc dividend for 2020

The board of directors of United Commercial Bank (UCB) has recommended 5.0 per cent cash and 5.0 per cent stock dividend for the year ended on December 31, 2020.

The final approval of the dividend will come during the annual general meeting (AGM), scheduled to be held on August 5 at 3:00 pm using a digital platform.

The record date is set for June 30, the bank said in a filing with the Dhaka Stock Exchange (DSE) on Wednesday.

The bank has also reported consolidated earnings per share (EPS) of Tk 2.42, consolidated net operating cash flow per share (NAV) per share of Tk 29.35 and consolidated net operating cash flow per share (NOCFPS) of minus Tk 9.31 for the year ended on December 31, 2020, as against Tk 2.35 (diluted), Tk 27.40 (diluted) and Tk 2.48 (diluted) respectively for the same period of the previous year.

The bank also informed that stock dividend has been recommended to strengthen the capital base of the company to comply with the regulatory requirements and to support the business growth. It is declared out of accumulated profit.

The bank has also disclosed the first quarter (Q1) un-audited financial statements on Wednesday. As per the Q1 reports, its consolidated EPS was Tk 0.40 for January-March 2021 as against Tk 0.32 for January-March 2020.

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 DSE in 1986, closed at Tk 17.30 on Tuesday. Its shares traded between Tk 11.70 and Tk 19.40 in the last year.

The bank also disbursed 5.0 per cent cash and 5.0 per cent stock dividend for the year ended on December 31, 2019.

The company’s paid-up capital is Tk 12.17 billion, authorised capital is Tk 15 billion and the total number of securities is 1.21 billion.

The sponsor-directors own 36.67 stakes in the bank while the government owns 0.81 per cent, institutional investors own 20.50 per cent, foreign investors 0.81 per cent and the general public 41.21 per cent as of April 30, 2021, the DSE data shows.

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