Dhaka, Bangladesh (BBN) – Prime Bank and IFIC Bank of Bangladesh have recommended dividend for the year ended on December 31 in 2017, according to separate official disclosures on Wednesday.

PRIME BANK: The board of directors Prime Bank Limited has recommended 7.0 percent cash and 10 percent stock dividend for the year ended on December 31 in 2017.

The final approval of the dividend will come during the annual general meeting scheduled to be held on May 24 in Dhaka.

The record date for entitlement of dividend is May 6.

The bank has also reported consolidated earnings per share (EPS) of BDT 1.18 (weighted), consolidated net asset value (NAV) per share of BDT 24.11 and consolidated net operating cash flow per share (NOCFPS) of BDT 7.27 for the year ended on December 31, 2017 as against BDT 2.13 (weighted), BDT. 24.57 and BDT 4.05 respectively for the same period of the previous year.

In 2016, the bank disbursed 16 percent cash dividend.

Each share of the bank, which was listed on the Dhaka bourse in 2000 closed at BDT 19.70 on Tuesday at the Dhaka Stock Exchange (DSE).

The bank’s paid-up capital is BDT 10.29 billion and authorised capital is BDT 25 billion while the total number of securities is 1.02 billion.

The sponsor-directors own 38.04 percent stake in the bank, while the institutional investors 24.14 percent, foreign 3.74 percent and the general public 34.08 percent as on February 28, 2018, the DSE data shows.

IFIC BANK: The board of directors IFIC Bank Limited has recommended 12 percent stock dividend for the year ended on December 31 in 2017.

The final approval of the dividend will come during the annual general meeting scheduled to be held on June 24 in the capital city Dhaka.

The record date for entitlement of dividend is May 10.

The bank has also reported consolidated earnings per share (EPS) of BDT 2.34, consolidated net asset value (NAV) per share of BDT 18.49 and consolidated net operating cash flow per share (NOCFPS) of BDT 1.31 for the year ended on December 31, 2017 as against BDT 1.79 (restated), BDT 24.69 and BDT 1.23 respectively for the same period of the previous year

In 2016, the bank disbursed 12 percent cash dividend.

Each share of the bank, which was listed on the Dhaka bourse in 1986 closed at BDT 15.70 on Tuesday at the Dhaka Stock Exchange (DSE).

The bank’s paid-up capital is BDT 11.95 billion and authorised capital is BDT 20 billion while the total number of securities is 1.19 billion.

The sponsor-directors own 5.92 percent stake in the bank, while the government owns 32.75 percent, institutional investors 21.86 percent, foreign 1.92 percent and the general public 37.55 percent as on March 29, 2018, the DSE data shows.

There will be no price limit on the trading of the shares of these two banks today following their corporate declarations.

BBN/SS/AD