Uniroyal Securities director expands holdings at Dhaka Bank

Rakhi Das Gupta, director of Uniroyal Securities Ltd, has expanded her holdings at the Dhaka Bank.

Already a sponsor of the bank with a 1 percent stake, she is in the process of buying 20.50 lakh new shares for Tk2.31 crore within the next 30 days. Rakhi served the bank as a director in 2011.

The closing price of the bank's shares was Tk11.20 per share on Wednesday at the Dhaka Stock Exchange, while the shares hit their highest Tk14 each within the last one year.

The Uniroyal Securities is a TREC member of the Dhaka Stock Exchange.

Meanwhile, the Dhaka Bank will pay 5 percent cash and 5 percent stock dividends to its shareholders for the 2019 financial year.

However, the final approval regarding the dividends will come during an annual general meeting on August 6. Meanwhile, the record date is July 14, 2020.

The bank has reported consolidated earnings per share (EPS) of Tk1.90 in the 2019 financial year, which is 15 percent higher compared to that in the previous year. The consolidated net asset value (NAV) per share was Tk20.97 for the year that ended on December 31, 2019.

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

In the first quarter of this year, the Dhaka Bank Ltd posted consolidated EPS of Tk0.68, which is 35 percent higher than that in the previous year at the same period. The NAV per share was Tk24.38 for the period that ended on 31 March, 2020.

The bank's paid-up capital is currently Tk853.21 crore.

As of February this year, sponsors and directors jointly owned 40.62 percent, institutional investors 13.05 percent and general investors 46.33 percent shares of the bank.