AB Bank gets BSEC approval to issue 2% stock dividend
AB Bank has obtained the consent of the Bangladesh Securities and Exchange Commission (BSEC) to issue a 2% stock dividend for the fiscal year 2022.
The announcement came through a disclosure made by the bank on Sunday (21 May), on the Dhaka Stock Exchange (DSE).
The stock dividend entitlement will be based on the record date set for 31 May. Shareholders of AB Bank will be eligible to receive the dividend in the form of additional shares, in proportion to their existing holdings.
Keep updated, follow The Business Standard's Google news channel
AB Bank had proposed the issuance of a 2% stock dividend on 2 May this year, in relation to the financial results for the year ended on 31 December 2022. The approval of BSEC was a prerequisite for the implementation of this proposal.
Notably, AB Bank's consolidated earnings per share (EPS) for 2022 remained at Tk0.83, the same as the previous year, indicating stability in the bank's financial performance.
Meanwhile, AB Bank's shares continue to trade at the floor price of Tk9.90 each. The bank will closely monitor the market response to its stock dividend announcement and anticipates positive reactions from its shareholders.
