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The board of directors of Brac Bank has recommended 7.50 per cent cash and 7.50 per cent stock dividend for the year ended on December 31, 2019.
Due to countrywide lockdown over coronavirus pandemic, a meeting of the board of directors was held on a digital platform on Thursday.
In the meeting, the board recommended the dividend and approved the audited financial statements for the year ended on December 31, 2019.
The bank said bonus shares have been recommended to strengthen the capital base of the bank to support business growth.
The final approval of the dividend will come during the annual general meeting scheduled to be held on June 25. The AMG will take place on digital platforms, said the bank.
The record date for the entitlement of dividend is on June 2.
The bank’s consolidated net profit fell 19.22 per cent to Tk 4.58 billion for the year ended on December 31, 2019 which was Tk 5.67 billion in the previous year.
The bank has also reported consolidated earnings per share (EPS) of Tk 4.01 for the year ended on December 31, 2019 as against Tk 4.50 in the previous year.
The consolidated net asset value (NAV) per share stood at Tk 32.90 for the year ended on December 31, 2019 as against Tk 28.58 in the previous year.
The consolidated net operating cash flow per share (NOCFPS) stood at Tk 20.94 for the year ended on December 31, 2019 as Tk 8.36 for the previous year.
The Brac Bank, which was listed on the Dhaka bourse in 2007, disbursed 15 per cent stock dividend for the year ended on December 31, 2018.
Each share of the bank closed at Tk 31.90 on March 25, the last trading session before the government holiday started.
In the last one year, its share traded between Tk 27.20 and Tk 81.90 each.
The bank’s paid-up capital is Tk 12.33 billion and authorised capital is Tk 20 billion, while the total number of securities is 1.23 billion.
The sponsor-directors own 44.29 per cent stake in the bank, while the institutional investors own 7.86 per cent, foreign investors 43.23 per cent and the general public 5.62 per cent as on February 29, 2019, the DSE data shows.