Dhaka, Bangladesh (BBN) - The Board of Directors of Islami Bank Bangladesh Limited has recommended 15 per cent cash dividend for the shareholders for the year 2014 subject to approval of the 32nd Annual General Meeting of the Bank.
This was decided in a meeting of the Board held at Islami Bank Tower in the capital Dhaka on Saturday with its Acting Chairman Engr. Mustafa Anwar in the chair.
Local and Foreign Directors of the Board along with Mohammad Mohammad Abdul Mannan, Managing Director of the Bank attended the meeting, an IBBL statement said.
The meeting approved the Profit & Loss Account and Balance Sheet for the year 2014 ended on 31 December. The Board also decided to hold 32nd Annual General Meeting of the Bank on June 13, 2015. The Record date for Dividend has been fixed on April 16, 2015.
It was also decided that the annual profit rate of Mudaraba Perpetual Bond of the Bank is 11.18 per cent for the year 2014 which is the sum of 9.68 per cent final rate of profit of 8 years term Mudaraba Savings Bond and 10 per cent f the declared Dividend.
The Profit of the Bond will be distributed within 30 days from holding of Annual General Meeting of the Bank.
The meeting expressed satisfaction while evaluating the performance of the Bank over the success and progress achieved so far and took some important business decisions, it added.
BBN/SSR/AD-21Mar15-7:55 pm (BST)