The Financial Express

National Bank declares 5.0pc stock dividend for 2020

The bank’s Q1 EPS drops by 56pc for Jan-Mar

| Updated: July 06, 2021 16:37:41

National Bank declares 5.0pc stock dividend for 2020

The board of directors of National Bank Ltd has recommended a 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 September 30 at 11:30 am using the digital platform.

The record date is set on August 17, the bank said in a filing with the Dhaka Stock Exchange (DSE) on Monday.

The bank has also reported consolidated earnings per share (EPS) of Tk 1.18, net asset value (NAV) per share of Tk 16.92, and net operating cash flow per share (NOCFPS) of Tk 3.50 for the year ended on December 31, 2020, as against Tk 1.34, Tk 16.68 and Tk 3.19 respectively for the same period of the previous year.

The bank also informed that bonus shares have been recommended in view to utilize its retained amount as capital for business expansion. Bonus share is declared out of accumulated profit.

The bank has also published first quarter (Q1) earnings on Monday. As per the Q1 reports, its consolidated EPS fell by 56.66 per cent to Tk 0.13 for January-March 2021 as against Tk 0.30 for January-March 2020.

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

Each share of the bank, which was listed on the DSE in 1984, closed at Tk 8.0 on Wednesday last. Its shares traded between Tk 6.80 and Tk 9.70 in the last one year, far below from its face value of Tk 10 each.

The company’s paid-up capital is Tk 30.66 billion, authorised capital is Tk 50 billion and the total number of securities is 3.06 billion.

The sponsor-directors own 30.99 per cent stake in the company while the institutional investors own 21.37 per cent, foreign investors 0.97 per cent and the general public 46.67 per cent as of May 31, 2021, the DSE data shows.

There will be no price limit on the trading of the shares of the company today following its corporate declaration.

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