IFIC Bank recommends 10pc stock dividend

The board of directors of IFIC Bank has recommended 10 per cent stock dividend for the year ended on December 31, 2018.

The final approval of the dividend will come during the annual general meeting (AGM) scheduled to be held on June 29 in Dhaka, said an official disclosure on Tuesday.

The record date for entitlement of dividend is May 23.

The bank has also reported consolidated EPS of Tk. 1.23, consolidated NAV per share of Tk. 17.69 and consolidated NOCFPS of Tk. 1.71 for the year ended on December 31, 2018 as against Tk. 1.79, Tk. 16.51 and Tk. 1.17 respectively for the same period of the previous year.

In 2017, the company disbursed 12 per cent stock dividend.

Each share of the bank, which was listed on the Dhaka bourse in 1986, closed at Tk 10.40 on Monday.

In the last one year, its share traded between Tk 10.20 and Tk 16.40 each.

The bank’s paid-up capital is Tk 13.38 billion and authorised capital is Tk 20 billion while the total number of securities is 1.33 billion.

The sponsor-directors own 8.33 per cent stake in the bank, while the government owns 32.75 per cent, institutional investors own 20.30 per cent, foreign investors 1.89 per cent and the general public 36.73 per cent as on March 31, 2018, the DSE data shows.

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