City Bank to pay 15% cash dividend

The City Bank Ltd will pay 15 percent cash dividend to its shareholders for the 2019 financial year.

The bank made the decision at a meeting on Monday evening.

However, the final approval of the dividends will come during an annual general meeting slated for August 13. The record date is July 13, 2020.

According to the Dhaka Stock Exchange (DSE), the bank has reported consolidated earnings per share (EPS) of Tk2.59 in the 2019 financial year, which is 18 percent higher than that in the previous year.

The consolidated net asset value (NAV) per share amounted to Tk24.14 for the year that ended on December 31, 2019.

The bank has paid 6 percent cash and 5 percent stock dividends to its shareholders in the 2018 financial year.

Meanwhile, in the first quarter of this year, City Bank posted consolidated EPS of Tk0.75 and its NAV per share was Tk24.38.

The bank's paid-up capital is currently Tk1,016.39 crore.

As of February this year, sponsors and directors jointly owned 27.92 percent shares, institutional investors 20.64 percent, foreign investors 9.54 percent and general investors 41.90 percent shares of the bank respectively.

The closing price of the bank's shares was Tk16.20 on Tuesday at the Dhaka Stock Exchange, while its shares hit their highest price of Tk29.70 within one year.