Dhaka, Bangladesh (BBN) – Mercantile Bank has recommended 15 per cent cash and 5.0 per cent stock dividend for the year ended on December 31, 2016, said an official disclosure on Sunday.
The board of directors of final approval of this dividend will come during the annual general meeting (AGM) scheduled to be held on March 30 at 11:00am at FARS Hotel and Resorts at Bijoynagar in Dhaka.
The record date for entitlement of dividend is on March 16.
The bank has also reported consolidated earnings per share (EPS) of BDT 3.01, consolidated net asset value (NAV) per share of BDT 22.82 and consolidated net operating cash flow per share (NOCFPS) of BDT 5.36 for the year ended on December 31, 2016 as against BDT 1.90, BDT 21.06 and BDT 10.37 respectively for the year ended on December 31, 2015.
There will be no price limit on the trading of the shares of the company today following its corporate declaration.
Each share price of the bank, which was listed on the Dhaka bourse in 2004, closed at BDT 17.40 on Thursday.
The bank disbursed 12 per cent cash dividend for the year ended on December 31, 2015.
The company’s paid-up capital is BDT 12.0 billion and authorised capital is BDT 7.39 billion, while the total number of securities is 739,156,701.
The sponsor-directors own 39.50 per cent stake in Mercantile Bank, while institutional investors 7.60 per cent and the general public 52.90 per cent as on January 31, 2017, the DSE data shows.