Dhaka Bank declares 12% dividends

Dhaka Bank Ltd has recommended 6 percent cash and 6 percent stock dividend for the year ended on December 31, 2020. 

In a filing with Dhaka Stock Exchange on Sunday, the company said that its consolidated earnings per share (EPS) was Tk 2.22 for the year 2020, a 22.65 percent increase from Tk 1.81 a year earlier. 

Meanwhile, its consolidated net asset value (NAV) per share stood at Tk 21.69 for the year ended on December 31, 2020, and Tk 6.95 for the same period of the previous year. 

In the filing, Dhaka Bank said that the bonus shares are declared to strengthen the capital base of the company under BASEL-III, which will be utilised for expansion of business. 

It also said that the bonus shares are declared out of the accumulated profit of the company and not declared from the capital reserve or revaluation reserve or any unrealised gain or out of profit earned prior to incorporation of the company.

The bonus shares are not declared through reducing paid-up capital or through doing anything so that the post dividend retained earnings become negative or a debit balance.

The annual general meeting of the company is scheduled to take place on June 29 via a digital platform.