Two banks approve cash, stock dividends

Staff Correspondent

29 April, 2021 12:00 AM printer

Two banks approve cash, stock dividends

Islami Bank Bangladesh Limited approved 10 percent cash dividend while Mercantile Bank 15 percent cash and stock dividend for the shareholders for the year 2020.

The approval came through their meetings held virtually in the capital on Tuesday, said a press release.

 IBBL Chairman Professor Md. Nazmul Hassan presided over the meeting.

Yousif Abdullah Al-Rajhi and Md. Shahabuddin, Vice Chairmen, Dr. Areef Suleman, representative of Islamic Development Bank, other Directors, Mohammed Monirul Moula, Managing Director and CEO and J.Q.M. Habibullah, Deputy Managing Director and Company Secretary of the bank attended the meeting.

The board also decided to hold 38th Annual General Meeting of the bank on 27 June 2021, Sunday.

The record date for entitlement of dividend has been fixed on 20 May 2021, Thursday.

The meeting also adopted unaudited financial statements for the first quarter ended on 31 March 2021.

Meanwhile, Mercantile Bank Limited has approved 10 percent cash and 5 percent bonus dividend for its shareholders for the year 2020.

The approval came at 22nd annual general meeting of the bank held virtually at head office in the city on Wednesday.

The shareholders approved the profit and loss account, balance sheet as on December 31, 2020 and 10 percent cash and 5 percent bonus dividend in the AGM.

Morshed Alam, Chairman of the Board of Directors of Mercantile Bank Limited presided over the AGM.

Bank’s Managing Director and CEO Md. Quamrul Islam Chowdhury delivered the welcome speech at the AGM.

Akram Hossain (Humayun) and M. Amanullah, Vice Chairmen, Md. Anwarul Haque, Chairman, Executive Committee and Risk Management Committee, Dr. Gazi Mohammad Hasan Jamil, Chairman, Audit Committee, ASM Feroz Alam, Md. Abdul Hannan, Md. Nasiruddin Choudhury, Mosharref Hossain, MA Khan Belal, Mohammad Abdul Awal and Dr. Md. Rezaul Kabir directors were connected the AGM virtually. Bank’s company secretary Abu Asghar G. Haruni, Chief Financial Officer Tapash Chandra Paul, PhD, Sponsors, significant number of Shareholders along with senior executives and officers were also connected to the AGM virtually.