Shahjalal Bank declares 10pc dividend

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

The board has also decided to increase the authorised capital from Tk 10 billion to Tk 15 billion by amending the relevant Clause of the Memorandum and Articles of Association of the Company.

The extraordinary general meeting and annual general meeting will be held on August 12 at 11am and 11:10am respectively through digital platforms.

The record date for EGM & AGM is July 02.

The company has also reported consolidated EPS of Tk 1.78, consolidated NAV per share of Tk. 17.70 and consolidated NOCFPS of Tk. 9.78 for the year ended on December 31, 2019 as against Tk 1.33, Tk 15.92 and negative Tk 2.92 respectively for the same period of the previous year.

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

The bank also disclosed its first quarter (Q1) consolidated EPS of Tk 0.64 for January-March 2020 as against Tk 0.50 for January-March 2019; consolidated NOCFPS was Tk. 4.75 for January-March 2020 as against Tk 5.88 for January-March 2019. Consolidated NAV per share was Tk 18.34 as on March 31, 2020 and Tk 16.42 as on March 31, 2019.

Each share of the bank, which was listed on the Dhaka Stock Exchange in 2007, closed at Tk 19.20 on Wednesday.

The company’s paid-up capital is Tk 9.33 billion and authorised capital is Tk 10 billion, while the total number of securities is 933.42 million.

The sponsor-directors own 43.22 per cent stake in the bank, while the institutional investors own 17.52 per cent, foreign investors 0.26 per cent and the general public 39 per cent as on February 29, 2020, the DSE data showed.

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