Uttara Bank says stock dividend needs no BSEC approval
The bank said that since the board now meets the minimum required shareholding condition, the stock dividend does not require further approval from the BSEC.
The stock dividend declared by Uttara Bank will not require approval from the Bangladesh Securities and Exchange Commission (BSEC), the bank said in a disclosure to the Dhaka Stock Exchange (DSE) today (6 May).
According to the disclosure, the bank's board appointed Asif Rahman as a shareholder director at a meeting on 29 April. Rahman holds 2.42% shares in the bank, raising the board's cumulative shareholding to 30.531%.
The bank said it recommended a 25% stock dividend for 2025 following Rahman's inclusion. It also noted that the position he filled had remained vacant from 29 July 2025 to 28 April 2026.
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Rahman's shares remain deposited in the block module of Central Depository Bangladesh Limited (CDBL). With his appointment effective from 29 April 2026, the board's collective shareholding has exceeded the regulatory threshold again.
In this context, the bank said that since the board now meets the minimum required shareholding condition, the stock dividend does not require further approval from the BSEC.
The board has recommended a 5% cash dividend alongside the 25% stock dividend for the year ended 31 December 2025.
The Annual General Meeting (AGM) is scheduled for 15 June, with the record date set for 20 May.
For 2025, the bank reported consolidated earnings per share (EPS) of Tk6.08, up from Tk4.93 a year earlier. Its net asset value (NAV) per share rose to Tk31.95 from Tk27.29, while net operating cash flow per share (NOCFPS) increased to Tk11.45 from Tk6.55.
