In 2023, the United Commercial Bank (UCB) faced a significant setback as its net profit plummeted by 34% compared to the previous year. This decline is reflected in its consolidated earnings per share, which dropped from Tk2.29 to Tk1.52. To address this challenge and maintain shareholder confidence, UCB announced a dividend distribution strategy, offering 5% cash and 5% stock dividends to its shareholders for the same year. This decision aims to provide value to investors despite the decline in profit. The company disclosed this information in its un-audited financial statement on April 29. To formalize these actions, UCB will hold its annual general meeting on June 30, seeking shareholder approval for the dividend distribution and presenting audited financial statements. The record date for this process is set for May 23, ensuring transparency and adherence to regulatory requirements. Through these measures, UCB strives to navigate through the challenges while upholding its commitment to shareholders.
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