Bank Asia offers 15% cash dividend

Bank Asia has declared a 15 per cent cash dividend for the calendar year of 2022 after the private lender secured a progressive performance in the year.

The listed company posted Tk 305 crore in net profit in 2022, up 12.1 per cent than the profit of Tk 272 crore in the previous year.

The company’s board of directors recommended the dividend at a recently held meeting, according to a filing available on the DSE website.

The lender will hold its annual general meeting (AGM) on April 30. The record date for the dividend disbursement has been fixed as April 6.

The company’s consolidated earnings per share (EPS) rose to Tk 2.62 for 2022 from Tk 2.34 for 2021.

Its net asset value (NAV) per share reached Tk 24.41 for 2022 which was Tk 23.33 for 2021, which signifies a growth in the company’s profitability and operational efficiency.

Earlier, the bank’s board approved to sell its 97,844 ordinary shares from ERA-Infotech Limited, aiming to reduce its stake in ERA-Infotech Limited to 10 per cent from the existing holding of 20 per cent.

Bank Asia shares closed at Tk 20.70 per share on the DSE trading floor on Sunday.