Trust Bank recommends 20pc bonus, to issue rights

The board of directors of Trust Bank Limited have recommended 20 per cent stock dividend for the year that ended on December 31, 2010. The board has also decided to issue 1R:5 rights shares (1 rights share for every 5 shares held) of Tk 100 each at an issue price of Tk 200 per share (including a premium of Tk 100 each) subject to the approval of the shareholders and regulatory authorities. The AGM will be held at Army Golf Club, Airport Road, Dhaka at 11:00am on May 24. The record date is April 4. Another record date for entitlement of the proposed rights shares to be notified later after obtaining approval from SEC. The bank has also reported net profit after tax of Tk 1,274.78 million, EPS of Tk 57.48, NAV per share of Tk 226.61 and NOCFPS of Tk (324.16) for the year that ended on December 31, 2010.