However, the final approval of the dividends will come during an annual general meeting slated for August 27
IFIC Bank Ltd will pay 10 percent stock dividends to its shareholders for the 2019 financial year.
The bank made the decision at a meeting on Wednesday evening.
However, the final approval of the dividends will come during an annual general meeting slated for August 27. The record date is July 19, 2020.
According to the Dhaka Stock Exchange (DSE), the bank reported consolidated earnings per share (EPS) of Tk1.92 in the 2019 financial year, which is 71 percent higher than in the previous year.
The consolidated net asset value (NAV) per share amounted to Tk18.02 for the year that ended on December 31, 2019.
The bank paid 10 percent stock dividends to its shareholders in the 2018 financial year as well.
Meanwhile, in the first quarter of this year, IFIC Bank posted a consolidated EPS of Tk0.48, which was 12 percent higher than at the same period of the previous year. Its NAV per share was Tk18.38 for the period that ended on 31 March, 2020.
The bank's paid-up capital is currently Tk1,472.61 crore.
As of February this year, sponsors and directors jointly owned 8.33 percent shares, the government held 32.75, institutional investors 23.73 percent, foreign investors 1 percent and general investors 34.19 percent shares of the bank.
The closing price of each share of the bank was Tk8.60 on Thursday at the Dhaka Stock Exchange, while its shares hit its highest price of Tk10.70 each within one year.