Uttara Bank declares 35% dividend for 2024, highest in over a decade

Uttara Bank has recommended a 35% dividend for the 2024 financial year, marking its highest payout in over a decade. 

The dividend comprises 17.50% cash and 17.50% stock, as announced during the bank's board meeting today (18 March).

The annual general meeting (AGM) is scheduled for 12 May, where shareholders will approve the recommended dividends and financial report. The record date for eligibility is set for 20 April.

The bank's board also approved the audited financial statement for 2024, which reported a consolidated net profit of Tk478 crore, a 51% increase compared to the previous year.

Its earnings per share (EPS) stood at Tk5.79, while its net asset value (NAV) per share reached Tk32.07 by the end of 2024. 

Listed on the stock exchanges in 1984, Uttara Bank currently has a paid-up capital of Tk825.76 crore.

According to the February shareholding report, sponsors and directors hold 30.59% of the shares, institutional investors own 27.15%, foreign investors hold 0.80%, and the general public holds the remaining 41.46%.

Yesterday, Uttara Bank's shares closed at Tk25.10 on the Dhaka Stock Exchange, reflecting a 0.40% increase from the previous trading session.