DBBL approves 50pc stock dividend
Tuesday, 24 March 2009
Dutch-Bangla Bank Ltd (DBBL) has declared bonus of 0.5 share for existing 1 (one) share of Tk 100 each for its shareholders for the year 2008.
The dividend was approved at the 13th annual general meeting (AGM) of the bank held at the Bangladesh China Friendship Conference Centre in the city Monday.
DBBL Chairman Abul Hasnat Mohammad Rashidul Islam presided over the meeting, says a press release.
Earlier, the 2nd extra-ordinary general meeting (EGM) of the bank was held on the same date and venue. An increase of authorised capital of the bank from Tk 1.0 billion to Tk 4.0 billion was approved by the shareholders at the EGM as per prior approval of Bangladesh Bank.
In this connection, amendments of the Memorandum and Articles of Association of the bank were also approved at the EGM.
Directors Zaheed Hossain Khan, Shahabuddin Ahmed, Abedur Rashid Khan, Irshad Kamal Khan, Syed Fakhrul Ameen, Chowdhury M Ashraf Hossain and the Managing Director of the bank Md Yeasin Ali were present, among others, at the EGM and AGM.
A large number of shareholders participated in the discussion on the overall performance of the bank at the AGM. The shareholders expressed their views on the Directors' Report and Audited Accounts of the bank for the year that ended on December 31, 2008.
The shareholders of the bank were informed that the bank earned operating profit of Tk 1,935.87 million in 2008 as against Tk 1,326.24 million in 2007 registering an increase of 47.90 per cent. Capital Adequacy Ratio stood at 10.96 per cent and it was above the Statutory Requirement of 10.00 per cent.
Bernhard Frey retired from the office of the director from Sponsor Shareholders' Group by rotation and being eligible for re-election, he was re-elected as director from Sponsor Shareholders' Group unanimously. Shahabuddin Ahmed retired from the office of the director from General Shareholders' Group. Md Fakhrul Islam was elected as a director of the bank from General Shareholders' Group unanimously.
In terms of Article 108 of the Articles of Association of the company, Abedur Rashid Khan (sponsor director), Sayem Ahmed (sponsor director), Irshad Kamal Khan (independent director), Dr Syed Fakhrul Ameen (director from depositors), Chowdhury M Ashraf Hossain (director from depositors) had been appointed as directors by the board since last AGM held on April 17, 2008.
The dividend was approved at the 13th annual general meeting (AGM) of the bank held at the Bangladesh China Friendship Conference Centre in the city Monday.
DBBL Chairman Abul Hasnat Mohammad Rashidul Islam presided over the meeting, says a press release.
Earlier, the 2nd extra-ordinary general meeting (EGM) of the bank was held on the same date and venue. An increase of authorised capital of the bank from Tk 1.0 billion to Tk 4.0 billion was approved by the shareholders at the EGM as per prior approval of Bangladesh Bank.
In this connection, amendments of the Memorandum and Articles of Association of the bank were also approved at the EGM.
Directors Zaheed Hossain Khan, Shahabuddin Ahmed, Abedur Rashid Khan, Irshad Kamal Khan, Syed Fakhrul Ameen, Chowdhury M Ashraf Hossain and the Managing Director of the bank Md Yeasin Ali were present, among others, at the EGM and AGM.
A large number of shareholders participated in the discussion on the overall performance of the bank at the AGM. The shareholders expressed their views on the Directors' Report and Audited Accounts of the bank for the year that ended on December 31, 2008.
The shareholders of the bank were informed that the bank earned operating profit of Tk 1,935.87 million in 2008 as against Tk 1,326.24 million in 2007 registering an increase of 47.90 per cent. Capital Adequacy Ratio stood at 10.96 per cent and it was above the Statutory Requirement of 10.00 per cent.
Bernhard Frey retired from the office of the director from Sponsor Shareholders' Group by rotation and being eligible for re-election, he was re-elected as director from Sponsor Shareholders' Group unanimously. Shahabuddin Ahmed retired from the office of the director from General Shareholders' Group. Md Fakhrul Islam was elected as a director of the bank from General Shareholders' Group unanimously.
In terms of Article 108 of the Articles of Association of the company, Abedur Rashid Khan (sponsor director), Sayem Ahmed (sponsor director), Irshad Kamal Khan (independent director), Dr Syed Fakhrul Ameen (director from depositors), Chowdhury M Ashraf Hossain (director from depositors) had been appointed as directors by the board since last AGM held on April 17, 2008.