Newly debuted South Bangla Agriculture & Commerce Bank Limited has recommended 4% cash and 4% stock dividend for the year ended on December 31, 2020.
In a filing with Dhaka Stock Exchange (DSE) on Wednesday, the company reported consolidated earnings per share (EPS) of Tk1.39 and consolidated net asset value (NAV) per share of Tk13.59 for the year ended on December 31, 2020, as against Tk1.41 and Tk12.22 respectively for the same period of the previous year.
Considering its initial public offering (IPO), its consolidated EPS was Tk1.21 and consolidated NAV per share of Tk13.14.
The bank further informed that bonus share was declared out of profit and retained earnings and not from any reserve.
It also said that the reason for the declaration of the stock dividend is to meet the Basel-III requirement.
The annual general meeting (AGM) of the bank, where the dividends will be approved, is scheduled to take place on October 21 via a digital platform.
SBAC Bank made its debut on the DSE on August 11, 2021.
During Wednesday’s trade, the closing price for each of its shares was Tk21.8. ♦
