EBL approves 20pc cash and 17pc stock dividend
Wednesday, 31 March 2010
FE Report
The shareholders of Eastern Bank Ltd has approved Cash Dividend @ 20 per cent and Stock Dividend (Bonus Share) @ 17 per cent for the year ended December 31, 2009.
The approval came at the 18th Annual General Meeting (AGM) of EBL held Tuesday in the city.
Amid intense competition among the existing Banks, EBL continued to maintain its growth both in terms of business volume and profitability.
The year 2009 saw an impressive growth in Operating Profit by about 24.93% and Total Assets of the Company stood at Tk. 69.87 billion at the end of 2009 which is 27.97% higher than the previous year. During the year, the Profit Before Tax (PBT) grew by 39.86% to Tk.2700.70 Million. During the year 2009 and the Earning Per Share (EPS) was BDT 58.53 (2008: BDT 34.53).
During the Discussions, the Shareholders appreciated the Board, Management and specially the Managing Director for such a splendid business result, operational and financial performances and also highly praised for declaring both Cash & Stock (Bonus Shares) Dividends among the higher Capital based Private Commercial Banks during the year under review.
Mir Nasir Hossain, Chairman of the Board of Directors of the Company presided over the Meeting which was attended by the Directors and a large number of Shareholders.
Mir Nasir Hossain, Chairman, Board of Directors of the Company presented the Directors' Report and Financial Statements for the year 2009 before the Shareholders. Mir Nasir Hossain replied to the Shareholders' queries.
The shareholders of Eastern Bank Ltd has approved Cash Dividend @ 20 per cent and Stock Dividend (Bonus Share) @ 17 per cent for the year ended December 31, 2009.
The approval came at the 18th Annual General Meeting (AGM) of EBL held Tuesday in the city.
Amid intense competition among the existing Banks, EBL continued to maintain its growth both in terms of business volume and profitability.
The year 2009 saw an impressive growth in Operating Profit by about 24.93% and Total Assets of the Company stood at Tk. 69.87 billion at the end of 2009 which is 27.97% higher than the previous year. During the year, the Profit Before Tax (PBT) grew by 39.86% to Tk.2700.70 Million. During the year 2009 and the Earning Per Share (EPS) was BDT 58.53 (2008: BDT 34.53).
During the Discussions, the Shareholders appreciated the Board, Management and specially the Managing Director for such a splendid business result, operational and financial performances and also highly praised for declaring both Cash & Stock (Bonus Shares) Dividends among the higher Capital based Private Commercial Banks during the year under review.
Mir Nasir Hossain, Chairman of the Board of Directors of the Company presided over the Meeting which was attended by the Directors and a large number of Shareholders.
Mir Nasir Hossain, Chairman, Board of Directors of the Company presented the Directors' Report and Financial Statements for the year 2009 before the Shareholders. Mir Nasir Hossain replied to the Shareholders' queries.