Dhaka, Bangladesh (BBN) – The board of directors of Bank Asia has recommended 12 per cent stock dividend for the year ended on December 31, 2016, said an official disclosure on Monday.
The final approval of shareholders will come during the annual general meeting (AGM) scheduled to be held on July 3 at 11:00am at Dhaka Ladies Club in Dhaka.
The record date for entitlement of dividend is on May18.
The bank has also reported consolidated earnings per share (EPS) of BDT 1.87 for the year ended on December 31, 2016 as against BDT 2.89 for the same period a year ago.
The net asset value (NAV) per share of BDT 21.41 for the year ended on December 31, 2016 as against BDT 21.22 for the previous year.
And net operating cash flow per share (NOCFPS) of BDT 6.09 for the year ended on December 31, 2016 as against BDT 21.19 for the same period of the previous year.
There will be no price limit on the trading of the shares of the bank today following its corporate declaration.
Each share of bank, which was listed on the Dhaka bourse in 2004, closed at BDT 16.90 on Sunday at DSE.
In 2015, the company disbursed 15 percent cash and 5.0 per cent stock dividend.
The bank’s paid-up capital is BDT 8.81 billion and authorised capital is BDT 15 billion, while the total number of securities is 881.25 million.
Sponsor-directors own 45.32 per cent stake in the bank, while the institutional investors own 35.29 per cent, foreign investors 0.32 per cent and the general public 19.07 per cent as on March 31, 2017, the DSE data shows.
Bank Asia has been launched by a group of successful entrepreneurs with recognized standing in the society.
The management of the bank consists of a team led by senior bankers with decades of experience in national and international markets.
The senior management team is ably supported by a group of professionals many of whom have exposure in the international market.
It set milestone by acquiring the business operations of the Bank of Nova Scotia in Dhaka, first in the banking history of Bangladesh.
It again repeated the performance by acquiring the Bangladesh operations of Muslim Commercial Bank Ltd. (MCB), a Pakistani bank.
In the year 2003 the Bank again came to the limelight with oversubscription of the Initial Public Offering of the shares of the Bank, which was a record (55 times) in our capital market’s history and its shares commands respectable premium.
The asset and liability growth has been remarkable.
Bank Asia has been actively participating in the local money market as well as foreign currency market without exposing the Bank to vulnerable positions.
The bank’s investment in Treasury Bills and other securities went up noticeably opening up opportunities for enhancing income in the context of a regime of gradual interest rate decline.
Bank Asia Limited started its service with a vision to serve people with modern and innovative banking products and services at affordable charge.
Being parallel to the cutting edge technology the Bank is offering online banking with added delivery channels like ATM, Tele-banking, SMS and Net Banking.
And as part of the bank’s commitment to provide all modern and value added banking service in keeping with the very best standard in a globalize world.
BBN/SK/AD