Pubali Bank recommends 10% cash dividend

The Pubali Bank Ltd has recommended a 10 percent cash dividend to its shareholders for the 2019 financial year.

The dividend payout was recommended at the bank's board of directors meeting on Thursday evening. However, final approval regarding the dividend will come during the Annual General Meeting (AGM) slated for July 30 in Dhaka. The record date is July 9.

According to the price sensitive information released by the bank, it reported consolidated earnings per share (EPS) of Tk2.10 in the 2019 financial year. The bank's EPS has dropped by 41 percent compared to the previous year.

Besides, the consolidated net asset value (NAV) per share amounted to Tk27.62 for the year that ended on December 31, 2019.

In the 2018 financial year, the bank paid 10 percent cash and 3 percent stock dividends to its shareholders. Its paid-up capital is currently Tk1,028.29 crore.

As of February this year, sponsors and directors jointly own 30 percent shares of the bank, the institutional investors own 26.78 percent, foreign investors 0.71 percent and general investors 42.51 percent.

The closing price of the bank's each share was Tk20.50 on Thursday at the Dhaka Stock Exchange, while the bank's shares hit their highest – Tk27.80 each – within the last one year.