Dhaka, Bangladesh (BBN) - Islami Bank Bangladesh Limited (IBBL) has recommended 10 per cent cash dividend for the year ended on December 31, 2016, officials said.
The board of directors of dividend recommendation came at a board meeting held on Thursday in Bangladesh capital city Dhaka.
The final approval will come during the annual general meeting (AGM) scheduled to be held on May 23 in Dhaka.
The record date for entitlement of dividend is on April 23.
The bank has also reported consolidated earnings per share (EPS) of BDT 2.78 and consolidated net asset value (NAV) per share of BDT 30.38 for the year ended on December 31, 2016 as against BDT 2.77 and BDT 30.27 respectively for the same period of the previous year.
There will be no price limit on the trading of the shares of the bank on Sunday following its corporate declaration.
Each share price of the bank, which was listed on the Dhaka bourse in 1985, closed at BDT 41.10 on Thursday last.
The bank disbursed 20 per cent cash dividend for the year ended on December 31, 2015.
The bank’s paid-up capital is BDT 16.10 billion and authorised capital is BDT 20 billion, while the total number of securities is 1.61 billion.
The sponsor-directors own 61.68 per cent stake in the bank, while institutional investors 15.81 per cent, foreigners 15.18 and the general public 17.33 per cent as on February 28, 2017, the DSE data shows.
BBN/MS/SK