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The Financial Express

Standard Bank declares 2.5pc cash, 2.5pc stock dividend

| Updated: May 02, 2021 15:45:52


Standard Bank declares 2.5pc cash, 2.5pc stock dividend

The board of directors of Standard Bank has recommended 2.5 per cent cash and 2.5 per cent stock dividend for the year ended on December 31, 2020.

The final approval of the dividend will come during the annual general meeting (AGM) scheduled to be held on July 29 at 11:00 am using the digital platform.

The record date is set for June 6, the company said in a filing with the Dhaka Stock Exchange (DSE) on Thursday.

The bank has also reported consolidated EPS of Tk 1.08, consolidated NAV per share of Tk. 16.67 and consolidated NOCFPS of negative Tk. 6.99 for the year ended on December 31, 2020, as against Tk 1.50, Tk 16.15 and Tk 9.44 respectively for the same period of the previous year.

The bank has also informed that 2.5 per cent stock dividend for the year 2020 has been declared in order to strengthen Tier-1 capital base of the Bank as per Basel-III requirement for the coming year and the bonus share has been declared out of accumulated profit.

In, 2019, the bank had disbursed 5.0 per cent cash and 5.0p per cent stock dividend.

The bank also disclosed first quarter (Q1) un-audited financial statements. As per the Q1 reports, consolidated EPS was Tk 0.17 for January-March 2021 as against Tk 0.36 for January-March 2020; Consolidated NOCFPS was negative Tk 9.37 for January-March 2021 as against negative Tk 5.30 for January-March 2020.

The consolidated NAV per share was Tk 17.35 as on March 31, 2021, and Tk. 16.55 as on March 31, 2020.

Each share of the bank, which was listed on the DSE in 2003, closed at Tk 8.30 on Wednesday. Its shares traded between Tk 7.90 and Tk 10.40 in the last year.

Its paid-up capital is Tk 10.05 billion and authorised capital is Tk 15 billion, while the total number of securities is 1.0 billion.

The sponsor-directors own 39.49 per cent stake in the bank while the institutional investors own 22.69 per cent, foreign investors 0.47 per cent and the general public 37.35 per cent as on March 31, 2021, the DSE data shows.

There will be no price limit on the trading of the shares of the bank today following its corporate declaration; however, as per the BSEC order dated March 19, 2020, the floor price shall be applicable accordingly.

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