Two banks get BSEC nod for issuing bonus dividends

The securities regulator Bangladesh Securities and Exchange Commission (BSEC) has approved the proposals of the payment of bonus dividend of two banks.

According to DSE disclosures on Monday, following the regulatory approval, South Bangla Agriculture & Commerce Bank will give a 1 per cent bonus dividend to its shareholders, and Union Bank will give a 5 per cent bonus.

Of ther two banks, SBAC had previously declared a 3 per cent cash and 1 per cent stock dividend to its shareholders for the year ended

December 31, 2021.

Besides, Union Bank had declared a 5 per cent cash and 5 per cent stock dividend for the same year.

As per the guidelines of the regulatory body, any bonus dividend proposed by any listed company will be effective once the BSEC approves it.

Currently, SBAC Bank has a paid-up capital of Tk 816 crore, while Union Bank's paid-up capital is Tk 9.86 crore.