Cash and stock dividends of 6 per cent and 5.5 per cent respectively have been recommended by the One Bank Limited for the year which concluded on December 31, 2020.
Based on a filing from the Dhaka Stock Exchange on March 29, the bank announced a consolidated earnings per share (EPS) of Tk 1.57, which was down by 13.73 per cent from Tk 1.82 in 2020.
On the other hand, the consolidated net asset value (NAV) per share was Tk 19.31, up from Tk 18.21 and consolidated net operating cash flow per share (NOCFPS) was Tk 7.09, which was a decrease from Tk 7.20 during the same timeframe
Based on the filing from the DSE, the One Bank stated that the stock dividend has been recommended for utilization of its retained amount as paid-up capital to solidify the capital base of the company. The dividend has been declared to be utilized for the sustainability and expansion of business of the company.
The company stated that the stock dividend is declared out of the accumulated profit of the company and not declared from the capital reserve or revaluation reserve or any unrealised gain or out of profit earned prior to incorporation of the company.