Dhaka, Bangladesh (BBN)- National Credit and Commerce (NCC) Bank Limited has recommended 16 per cent cash dividend for the year ended on December 31, 2016, said an official disclosure on Tuesday.
The final approval of shareholders will come during the annual general meeting (AGM) scheduled to be held on June 20 at 11am at Officers Club in the capital Dhaka.
The record date for entitlement of dividend is on April 22.
The bank has also reported consolidated earnings per share (EPS) of BDT 2.35, consolidated net asset value (NAV) per share of BDT 18.76 and consolidated net operating cash flow per share (NOCFPS) of BDT 4.88 for the year ended on December 31, 2016 as against BDT 1.57, BDT 17.76 and BDT 2.84 respectively for the same period of the previous year.
There will be no price limit on the trading of the shares of the bank today (Tuesday) following its corporate declaration, it added.
Each share of bank, which was listed on the Dhaka bourse in 2000, closed at BDT 15.20 on Monday at DSE.
The bank disbursed 12.75 per cent cash dividend in 2015.
The bank’s paid-up capital is BDT 8.83 billion and authorised capital is BDT 10 billion, while the total number of securities is 883.22 million.
Sponsor-directors own 37.51 per cent stake in the private commercial bank (PCB), while the institutional investors own 16.53 per cent, foreigners 0.92 per cent and the general public 45.04 per cent as on March 31, 2107, according to the DSE statistics.
The NCC Bank started its journey in the financial sector of the country as an investment company back in 1985. The aim of the company was to mobilise resources from within and invest them in such way so as to develop country's industrial and trade sector and playing a catalyst role in the formation of capital market as well.
Its membership with the browse helped the company to a great extent in these regard. The company operated upto 1992 with 16 branches and thereafter with the permission of the central bank converted into a full fledged PCB in 1993 with paid up capital of BDT 390 million to serve the nation from a broader platform.
Since its inception the NCC Bank has acquired commendable reputation by providing sincere personalized service to its customers in a technology based environment, the PCB explained.
The bank has set up a new standard in financing in the industrial, trade and foreign exchange business. Its various deposit and credit products have also attracted the clients-both corporate and individuals who feel comfort in doing business with the PCB.
BBN/SSR/AD