DBBL declares 15% cash, 15% stock dividends

Dutch-Bangla Bank Ltd has recommended 15 percent cash and 15 percent stock dividend for the year ended on December 31, 2020. 

This is the first listed bank that declared dividend for its shareholders for the last year hit by Covid-19 pandemic.

In a filing with Dhaka Stock Exchange on Sunday, the company reported consolidated earnings per share (EPS) of Tk 10 in 2020, up from Tk 7.89 recorded in 2019.

The bank's net asset value (NAV) per share was Tk58.65, up from Tk49.90 and consolidated net operating cash flow per share stood at Tk31.22 from Tk11.68 during the period.

Under the Bangladesh Bank's new guidelines, a bank can declare up to a 30% dividend with a maximum of a 15% cash dividend if it can maintain a capital adequacy ratio of at least 15% with a capital conservation buffer of at least 2.5% without the deferral provisioning facility offered by the central bank.