Dhaka, Bangladesh (BBN)– The board of directors of Mercantile Bank has recommended 17 percent cash dividend and 5.0 percent stock dividend for the year ended on December 31, 2017.
The final approval of the dividend will come during the annual general meeting scheduled to be held on April 30 at 11am in Dhaka, said an official disclosure on Sunday.
The record date for entitlement of dividend is April 15.
The bank has also reported consolidated EPS of BDT 3.89, consolidated NAV per share of BDT 22.74 and consolidated NOCFPS of BDT 3.72 for the year ended on December 31, 2017 as against BDT 2.87 (restated), BDT 22.82 and BDT 5.36 respectively for the same period of the previous year.
In 2016, the bank disbursed 15 percent cash and 5.0 percent stock dividend.
There will be no price limit on the trading of the shares of the company today following its corporate declaration.
Each share of the bank, which was listed on the Dhaka bourse in 2004, closed at BDT 21.50 on Thursday at the Dhaka Stock Exchange (DSE).
Its price traded between BDT 15.10 and BDT 29.70 in the last one year.
The bank’s paid-up capital is BDT 7.76 billion and authorised capital is BDT 12 billion while the total number of securities is 766.11 million.
The sponsor-directors own 37.46 percent stake in the bank, while the institutional investors 16.58 percent, foreign 7.45 percent and the general public 38.51 percent as on February 28, 2108, the DSE data shows.