Al-Arafah Bank declares 15% cash dividend

Al-Arafah Islami Bank Limited has recommended a 15 percent cash dividend 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 August 11, 2022, on digital platform, said the company in a filing with the Dhaka Stock Exchange on Wednesday.

The company has reported EPS of Tk 1.96 and consolidated NAV per share of Tk 22.73 during the period.

The record date for the distribution of the declared dividend among the shareholders has been fixed as June 8, 2022.

There will be no price limit on the trading of the shares of the Company today (April 27) following its corporate declaration.

The company has also reported that EPS has been decreased as a total provision against investment increased in this year compared to the previous year.

Along with this, deposits from customers (other than banks) decreased this year compared to previous year.