Mutual Trust Bank, Shahjalal Islami declare dividends; shares fall  

The shares of Mutual Trust Bank and Shahjalal Islami Bank both experienced declines yesterday following the announcement of dividends for their shareholders for 2023.

The banks also unveiled their financials for the last year on the websites of both the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE). 

After three years, Mutual Trust Bank PLC recommended cash dividends for its shareholders, declaring a 10% cash dividend for 2023. 

Following the declaration, its share price fell by 1.33% to Tk14.80 each at the DSE. 

In 2022, it paid a 10% stock dividend to its shareholders. According to the country's premier bourse, the bank recommended cash dividends after 2019. 

In 2019, it paid 5% cash and 5% stock dividends to its shareholders. Since then, it has paid stock dividends only to its shareholders for three consecutive years. 

According to its disclosure, Mutual Trust Bank's consolidated earnings per share (EPS) increased by 20.74% to Tk2.91, up from Tk2.41 in 2022. 

To secure approval from the shareholders, the bank scheduled its annual general meeting (AGM) for 3 June on a digital platform. To identify its shareholders, 9 May has been fixed as the record date.

Shahjalal Islami Bank PLC recommended a 14% cash dividend for its shareholders in 2023. In 2022, it paid a 15% dividend – 12% cash and 3% stock – to its shareholders. 

Following the dividend declaration, its share price fell by 1.94% to Tk20.20 each yesterday. 

According to a disclosure, its consolidated EPS stood at Tk3.22, the same as in 2022. To approve the declared dividends by the shareholders, the AGM of the bank is fixed for 30 May, and the record date is fixed on 8 May.