NRBC Bank receives BSEC nod to issue 4.5% stock dividend
NRB Commercial (NRBC) Bank Limited has obtained the green light from the Bangladesh Securities and Exchange Commission (BSEC) to issue a 4.5% Stock Dividend for the fiscal year 2022.
The bank has set the record date for stock dividend entitlement as Thursday (25 May).
According to a disclosure made on the Dhaka Stock Exchange (DSE) on Sunday (21 May), NRBC Bank announced that the BSEC has granted its consent for the declaration of a 4.5% stock dividend.
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This decision comes after the bank recommended a total dividend of 12% on 2 May 2023, which includes 7.5% cash dividend and 4.5% stock dividend for its shareholders, covering the period ending 31 December 2022.
It is important to note that the approval of BSEC was required for the issuance of the stock dividend. NRBC Bank's consolidated earnings per share (EPS) for 2022 stood at Tk2.44, a decrease from Tk2.85 in the previous year.
Currently, NRBC Bank's shares are trading at the floor price of Tk17.60 per share, experiencing limited movement in the market.
