South Bangla Agriculture & Commerce Bank declares 8% dividend

In Wednesday’s trade, the closing price of each of his shares was Tk 21.8

The newly formed South Bangla Agriculture & Commerce Bank Limited recommended a 4% cash dividend and 4% stock dividend for the year ended December 31, 2020.

In a document filed with the Dhaka Stock Exchange on Wednesday, the company reported a consolidated earnings per share (EPS) of 1.39 Tk and a consolidated net asset value (NAV) per share of 13.59 Tk for the year ended. December 31, 2020, against Tk1.41 and Tk12.22 respectively for the same period of the previous year.

Taking into account its initial public offering (IPO), its consolidated EPS was 1.21 Tk and the consolidated NAV per share of 13.14 Tk.

The bank further indicated that the free share was declared on profit and retained earnings and not on a reserve.

He also said that the reason for declaring the stock dividend is to meet the Basel-III requirement.

The bank’s annual general meeting (AGM), where dividends will be approved, is expected to take place on October 21 via a digital platform.

South Bangla Agriculture & Commerce Bank debuted on the Dhaka Stock Exchange on August 11, 2021. During Wednesday’s trading, the closing price of each of its shares was Tk 21.8.


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