Trust Bank declares 20% dividends

With 11.67 percent decline in its earnings, Trust Bank Limited has recommended 10 percent cash and 10 percent stock dividends for the year ended on December 31, 2020. 

In a filing with Dhaka Stock Exchange on Tuesday, the company reported consolidated earnings per share (EPS) of Tk 2.8 and consolidated net asset  value (NAV) per share of Tk 27.37 for the year ended on December 31, 2020, as against Tk 3.17 and Tk 23.75 respectively for the same period of the previous year. 

The company also said that the bonus shares have been recommended to strengthen the capital base of the company to support business growth. 

It said that the bonus shares are declared out of accumulated profit and not declared from the capital reserve or revaluation reserve or any unrealised gain.

The bonus shares were not declared out of profit earned prior to incorporation of the company or through reducing the paid-up capital or through doing anything so that the post dividend retained earnings become negative or a debit balance. 

The annual general meeting (AGM) of the company is scheduled to take place on August 9, 2021, via a digital platform.