Dutch-Bangla Bank Ltd’s profit after tax surged 59 per cent year-on-year in the first quarter (Q1) for January-March, 2020.
The board of directors of the bank in a meeting held on Tuesday, among others, approved the provisional and un-audited financial statements for three months period ended on March 31, 2020 for circulation to all concerned.
As per the disclosure, the bank’s profit after tax stood at Tk 754.86 million in January-March, 2020, which was Tk 473.81 million in the same quarter of the previous year.
The company’s earnings per share (EPS) stood at Tk 1.51 for January-March 2020 as against Tk 0.95 for January-March 2019.
The net operating cash flow per share (NOCFPS) was Tk 17.86 for January-March 2020 as against Tk 4.09 for January-March 2019.
The net asset value (NAV) per share was Tk 56.35 as on March 31, 2020 and Tk 47.12 as on March 31, 2019.
The bank has also informed that EPS, NAV per share and NOCFPS for the Q1 in 2019 are restated for the increase of number of shares outstanding by issuing 150 per cent bonus shares for the year ended on December 31, 2018.
Each share of the bank, which was listed on the Dhaka Stock Exchange in 2001, closed at Tk 56.90 Wednesday, remaining unchanged over the previous day.
The bank’s shares traded between Tk 49.10 and Tk 79.60 in the last one year.
Recently, the board of directors of the bank recommended a 30 per cent cash dividend for the year ended on December 31, 2019.
However, the bank informed that as per the Bangladesh Bank circular regarding dividend policy issued on May 11, 2020, banks can now declare highest 15 per cent to 30 per cent dividend including 7.5 to 15 per cent cash as per their ability maintaining some other obligations.
The company’s paid-up capital is Tk 5.0 billion and authorised capital is Tk 15 billion, while the total number of securities is 500 million.
The sponsor-directors own 86.99 per cent stake in the bank, while the institutional investors own 3.99 per cent, foreign investors 0.02 per cent and the general public 9.0 per cent as on February 29, 2020, the DSE data showed.