The Financial Express
Swasti Lankabangla Swasti Lankabangla

IFIC Bank declares 10pc stock dividend

Record date for entitlement of dividend July 19

| Updated: June 27, 2020 11:10:37

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The board of directors of IFIC Bank Limited has recommended a 10 per cent stock dividend for the year ended on December 31, 2019.

The final approval of the dividend will come during the annual general meeting (AGM) scheduled to be held on August 27 at 4:00 pm through a digital platform.

The record date for entitlement of the dividend is July 19.

The bank has also reported consolidated EPS of Tk. 1.92, consolidated NAV per share of Tk. 18.02 and consolidated NOCFPS of Tk. 9.43 for the year ended on December 31, 2019 as against Tk. 1.12, Tk. 16.08 and Tk. 1.55 respectively for the same period of the previous year.

The bank also informed that bonus shares have been declared to strengthen the capital base of the company to support business growth.

The bank also disclosed first quarter (Q1) earnings results on Thursday. As per the disclosure, the bank’s consolidated EPS was Tk 0.48 for January-March 2020 which was also Tk 0.43 for January-March 2019.

In 2018, the bank also paid a 10 per cent stock dividend.

Each share of the bank, which was listed on the Dhaka bourse in 1986, closed at Tk 8.60 on Wednesday.

In the last one year, its share traded between Tk 7.80 and Tk 10.70 per share.

The bank’s paid-up capital is Tk 14.72 billion, authorised capital is Tk 40 billion and the total number of securities is 1.47 billion.

Sponsor-directors own 8.33 per cent stake in the bank while the government owns 32.75 per cent, institutional investors own 23.73 per cent, foreign 1.0 per cent and general public 34.19 per cent as on February 29, 2020, the DSE data showed.


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