The board of directors of United Commercial Bank (UCB) has recommended 10 per cent cash dividend for the year ended on December 31, 2017.
The final approval of the dividend will come during the annual general meeting (AGM) scheduled to be held on April 30. Time and Venue to be notified later on, said an official disclosure on Wednesday.
The record date for entitlement of dividend is April 11.
The bank has also reported consolidated earnings per share (EPS) of Tk 2.58, consolidated net asset value (NAV) per share of Tk 25.49 and consolidated net operating cash flow per share (NOCFPS) of Tk 2.04 for the year ended on December 31, 2017 as against Tk 2.49, Tk 24.50 and Tk 2.25 respectively for the same period of the previous year.
In 2016, the bank disbursed 15 per cent cash dividend.
There will be no price limit on the trading of the shares of the company today (Wednesday) following its corporate declaration.
Each share of the bank, which was listed on the Dhaka bourse in 1986, closed at Tk 19.60 on Tuesday at the Dhaka Stock Exchange (DSE).
The bank’s paid-up capital is Tk 10.54 billion and authorised capital is Tk 15 billion while the total number of securities is 1.05 billion.
The sponsor-directors own 37.02 per cent stake in the bank, while the government owns 0.81 per cent, institutional investors 19.07 per cent, foreign 1.93 per cent and the general public 41.17 per cent as on February 28, 2108, the DSE data shows.