Islami Bank to give 30pc stock dividend
Saturday, 28 March 2009
FE Report
The board of directors of Islami Bank Bangladesh Limited (IBBL) recommended 30 per cent stock dividend for its shareholders for the year 2008 subject to the approval of its 26th annual general meeting (AGM).
The decision came at the board meeting of the bank at the IBBL head office in the city Wednesday, said a press release.
Presided over by IBBL board of directors Chairman Abu Nasser Muhammad Abduz Zaher, the meeting was attended, among others, by its foreign and local directors including Yousif Abdullah Al-Rajhi, representative of Al-Rajhi Company for Industry and Trade, KSA, Dr Abdulhameed Fouad Al-Khateeb, Jeddah, KSA and Wasim Ahmed, representative of Islamic Development Bank, Jeddah, KSA.
The meeting approved the profit and loss account, and balance sheet of the bank for the year that ended on December 31, 2008.
The 25th AGM (adjourned) will be held on April 17, 2009 and the 26th AGM on August 14, 2009.
The record date for entitlement of dividend is July 14, 2009.
The meeting also decided that the annual profit rate of Mudaraba Perpetual Bond of the bank was 13.80 per cent for the year 2008, which was a summation of 10.80 per cent final rate of annual profit of eight year term Mudaraba Savings Bond and 10 per cent of the rate of declared dividend, that is, 3.0 per cent.
The profit of the bond will be distributed within 60 days from holding of the AGM of the bank.
The board of directors of Islami Bank Bangladesh Limited (IBBL) recommended 30 per cent stock dividend for its shareholders for the year 2008 subject to the approval of its 26th annual general meeting (AGM).
The decision came at the board meeting of the bank at the IBBL head office in the city Wednesday, said a press release.
Presided over by IBBL board of directors Chairman Abu Nasser Muhammad Abduz Zaher, the meeting was attended, among others, by its foreign and local directors including Yousif Abdullah Al-Rajhi, representative of Al-Rajhi Company for Industry and Trade, KSA, Dr Abdulhameed Fouad Al-Khateeb, Jeddah, KSA and Wasim Ahmed, representative of Islamic Development Bank, Jeddah, KSA.
The meeting approved the profit and loss account, and balance sheet of the bank for the year that ended on December 31, 2008.
The 25th AGM (adjourned) will be held on April 17, 2009 and the 26th AGM on August 14, 2009.
The record date for entitlement of dividend is July 14, 2009.
The meeting also decided that the annual profit rate of Mudaraba Perpetual Bond of the bank was 13.80 per cent for the year 2008, which was a summation of 10.80 per cent final rate of annual profit of eight year term Mudaraba Savings Bond and 10 per cent of the rate of declared dividend, that is, 3.0 per cent.
The profit of the bond will be distributed within 60 days from holding of the AGM of the bank.