Trust Bank to pay 20pc dividend for 2020

FE ONLINE REPORT | Tuesday, 15 June 2021

The board of directors of Trust Bank has recommended 10 per cent cash and 10 per cent stock dividend for the year ended on December 31, 2020.

This is the bank’s doubled dividend declaration for the year 2020. In 2019, the bank provided 10 per cent dividend (5.0 per cent cash and 5.0 per cent stock).

The final approval of the dividend will come during the annual general meeting (AGM), scheduled to be held on August 9 at 11:00 am using a digital platform.

The record date is set for July 07, the bank said in a filing with the Dhaka Stock Exchange (DSE) on Tuesday.

The bank has also reported consolidated earnings per share (EPS) of Tk 2.80, consolidated net asset value (NAV) per share of Tk 27.37 and consolidated net operating cash flow per share (NOCFPS) of 61.21 for the year ended on December 31, 2020, as against Tk 3.17, Tk 23.75 and Tk 31.08 respectively for the same period of the previous year.

The bank has also published the first quarter (Q1) un-audited financial statements on Tuesday. It has reported consolidated net profit after tax of Tk 650.16 million for January-March, 2021, a 10.89 per cent rise over the same period of the previous year.

As per the Q1 reports, its consolidated EPS was Tk 1.01 for January-March 2021 as against Tk 0.91 for January-March 2020.

Each share of the bank, which was listed on the DSE in 2007, closed at Tk 33.50 on Monday. Its shares traded between Tk 24.40 and Tk 36 in the last year.

The company’s paid-up capital is Tk 6.43 billion, authorised capital is Tk 10 billion and the total number of securities is 643.29 billion.

The sponsor-directors own 60 stakes in the bank while the institutional investors own 16.11 per cent, foreign investors 0.32 per cent and the general public 23.57 per cent as of May 31, 2021, the DSE data show.

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