Eastern Bank approves 55pc stock dividend
Thursday, 31 March 2011
FE Report
The 19th Annual General Meeting (AGM) of Eastern Bank Ltd (EBL) was held Wednesday at the Bangabandhu International Conference Centre (BICC) in the city. Mohd. Noor Ali, Chairman, Board of Directors of the EBL presented the Directors' Report and Financial Statements for the year 2010 before the Shareholders and later replied to the Shareholders' queries. For the year ended 31st December 2010, the Shareholders unanimously approved Stock Dividend (Bonus Share) at the rate of 55 per cent on the Shares held by each Shareholder as on the 'Record Date,' i.e.. March 1, 2011. Amid intense competition among the existing Banks, EBL continued to maintain its growth both in terms of business volume and profitability. The year 2010 saw an impressive growth in Operating Profit by about 47.94 per cent and Total Assets of the Company stood at Tk. 82.05 billion at the end of 2010 which is 17.43 per cent higher than the previous year. During the year, the Profit Before Tax (PBT) grew by 47.83 per cent to Tk. 3,992.41 million. During the year 2010 Earnings Per Share (EPS) was BDT 8.30 (2009: BDT 5.00).
The 19th Annual General Meeting (AGM) of Eastern Bank Ltd (EBL) was held Wednesday at the Bangabandhu International Conference Centre (BICC) in the city. Mohd. Noor Ali, Chairman, Board of Directors of the EBL presented the Directors' Report and Financial Statements for the year 2010 before the Shareholders and later replied to the Shareholders' queries. For the year ended 31st December 2010, the Shareholders unanimously approved Stock Dividend (Bonus Share) at the rate of 55 per cent on the Shares held by each Shareholder as on the 'Record Date,' i.e.. March 1, 2011. Amid intense competition among the existing Banks, EBL continued to maintain its growth both in terms of business volume and profitability. The year 2010 saw an impressive growth in Operating Profit by about 47.94 per cent and Total Assets of the Company stood at Tk. 82.05 billion at the end of 2010 which is 17.43 per cent higher than the previous year. During the year, the Profit Before Tax (PBT) grew by 47.83 per cent to Tk. 3,992.41 million. During the year 2010 Earnings Per Share (EPS) was BDT 8.30 (2009: BDT 5.00).