Eastern Bank declares 25% dividend

Eastern Bank Limited has recommended 12.50-percent cash and 12.50 percent stock dividends for its shareholders for the year ended on December 31, 2021.

The dividend payout was recommended at the company’s board of directors meeting.

However, final approval regarding the dividends will come during the Annual General Meeting (AGM) scheduled for May 19, 2022 on digital platform, said the company in a press release.

The company has reported EPS of Tk 5.03 and consolidated NAV per share of Tk 33.17 during the period.

The record date for the distribution of the declared dividend among the shareholders has been fixed as April 25, 2022.

There will be no price limit on the trading of the shares of the Company today (April 3) following its corporate declaration.

The company has also reported that a stock dividend has been recommended to strengthen the capital base of the Company in order to support projected business growth and also to improve certain regulatory ratios.

The board of directors has also decided to increase authorized capital from Tk 1,200 crore to Tk 2,500 crore and amendment of the related clauses of the memorandum of association and article of association of the company in compliance with the respective rules and regulations subject to the approval of the regulatory authorities and the shareholders in the AGM.