Mutual Trust Bank declares 10% stock dividend
The dividend is to strengthen the bank’s Tier-I capital base as per Basel III requirements for the coming year.
Mutual Trust Bank Limited has recommended a 10% stock dividend to its shareholders for the year ended 31 December, 2020.
According to a disclosure of the bank on the website of the Dhaka Stock Exchange (DSE) on Wednesday, it paid 5% cash and 5% stock dividends in 2019.
The bank further informed in the disclosure that it declared the stock dividend to strengthen the Tier-I capital base as per Basel III requirements for the coming year.
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To secure approval of the dividend from its shareholders, the bank will hold its annual general meeting on 24 June on a virtual platform. The recording date will be 31 May.
According to the bank's financial disclosure for the year 2020, its consolidated earnings per share (EPS) decreased 27.6% to Tk1.31, compared to Tk1.81 in the previous year.
But as per its first quarter (January to March) financials of 2021, the bank's consolidated EPS rose 12.5% to Tk0.81, compared to Tk0.72 for the same period in 2020.
Mutual Trust Bank was listed on the stock exchanges in 2003. Now, it is trading in the `A' category.
As of March, of the bank's total shares, sponsors and directors held 43.97%, institutional investors 24.20%, foreign investors 0.16%, and general shareholders 31.67%.
