The board of directors of Premier Bank Ltd. has decided to issue additional non-convertible subordinated bonds worth Tk 5.0 billion.
The bank will issue the bonds to raise funds to have regulatory capital support under Tier-2 category of BASEL III, according to an official disclosure posted on the Dhaka Stock Exchange (DSE) website on Thursday.
The issuance of bonds, however, is subject to the approval of the regulatory authorities-the Bangladesh Bank (BB) and the Bangladesh Securities and Exchange Commission (BSEC), the disclosure said.
Each share of the bank, listed on the DSE in 2007, closed at Tk 11.20 on Thursday, advancing 1.82 per cent over the previous day.
Its share traded between Tk 9.70 and Tk 17.70 in the last one year.
The bank's consolidated earnings per share (EPS) stood at Tk 0.57 for January-March period of 2019 as against Tk 0.39 for the same period of 2018.
The consolidated net operating cash flow per share (NOCFPS) was Tk 0.66 for January-March 2019 as against Tk 0.64 for the same period last year.
The consolidated net asset value (NAV) per share was Tk 19.83 as on March 31, 2019 and Tk 16.79 as on March 31, 2018.
The bank has recently recommended 15.50 per cent stock dividend for the year ended on December 31, 2018.
The final approval to the dividend will come during the annual general meeting (AGM) scheduled to be held on May 12 at 10:30am at the International Convention City Bashundhara in Dhaka.
In 2017, the bank disbursed 15 per cent stock dividend.
The bank's paid-up capital is Tk 8.0 billion and authorised capital is Tk 10 billion, while the number of securities is 800 million.
The sponsor-directors own 35.22 per cent stake in the bank, while institutional investors own 17.06 per cent, and the general public 47.72 per cent as on March 31, 2019.
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