Mutual Trust Bank declares 10% stock dividend
The dividend is to strengthen the bank’s Tier-I capital base as per Basel III requirements for the coming year.
Mutual Trust Bank Limited has recommended a 10% stock dividend to its shareholders for the year ended 31 December, 2020.
According to a disclosure of the bank on the website of the Dhaka Stock Exchange (DSE) on Wednesday, it paid 5% cash and 5% stock dividends in 2019.
The bank further informed in the disclosure that it declared the stock dividend to strengthen the Tier-I capital base as per Basel III requirements for the coming year.
To secure approval of the dividend from its shareholders, the bank will hold its annual general meeting on 24 June on a virtual platform. The recording date will be 31 May.
According to the bank's financial disclosure for the year 2020, its consolidated earnings per share (EPS) decreased 27.6% to Tk1.31, compared to Tk1.81 in the previous year.
But as per its first quarter (January to March) financials of 2021, the bank's consolidated EPS rose 12.5% to Tk0.81, compared to Tk0.72 for the same period in 2020.
Mutual Trust Bank was listed on the stock exchanges in 2003. Now, it is trading in the `A' category.
As of March, of the bank's total shares, sponsors and directors held 43.97%, institutional investors 24.20%, foreign investors 0.16%, and general shareholders 31.67%.
