AB Bank approves 12.50pc stock dividend

FE Team | Published: December 22, 2017 00:14:40

Vice Chairman of the Board of Directors of AB Bank Ltd Salim Ahmed presiding over the 35th Annual General Meeting (AGM) of the bank at a city hotel on Thursday.

The 35th Annual General Meeting (AGM) of AB Bank Ltd was held at a city hotel on Thursday.
The AGM approved 12.50 per cent stock dividend for the year ended in 2016, according to a statement.
The AGM also adopted directors' report and audited financial statements and appointed Moshtaque Ahmed Chowdhury, Shajir Ahmed and Mrs Shireen Scheik Mainuddin as directors. Shareholders also appointed M/S SF Ahmed & Co, Chartered Accountants, as statutory auditor of the bank for the year 2017.
An Extraordinary General Meeting (EGM) of the bank was also held on the same day at 10:20am. Shareholders approved to readjust proposed Rights Issue of the bank from 5:4R to 3:2R after giving effect of Stock Dividend 2016 at a price of Tk 10 each subject to approval of the concerned Regulatory Authorities.
The AGM was presided over by Vice Chairman of the Board of Directors Salim Ahmed. President & Managing Director Moshiur Rahman Chowdhury was also present on the occasion.