Dhaka, Bangladesh (BBN)-The board of directors of City Bank Ltd has recommended 15 percent cash dividend and 5.0 percent stock dividend for the year ended on December 31, said an office disclosure on Sunday.
The board has also decided to increase the authorised capital of the company from BDT 10 billion to BDT 15 billion.
It also settled on accordingly to amend the memorandum and articles of association of the company subject to obtaining approval of Bangladesh Bank and by shareholders as well as to comply the required compliances.
The final approval of the dividend will come during the AGM scheduled to be held on June 28.
Time and venue of the AGM will be notified later on. The record date of the company is May 10.
The company has also reported EPS of BDT 2.66, NAV per share of BDT 27.72 and NOCFPS of BDT (2.52) for the year ended on December 31, 2014.
There will be no price limit on the trading of the shares of the company today following its corporate declaration.