Midland Bank announces 5% cash dividend for 2022

The board of directors of Midland Bank Limited proposed a 5 per cent cash dividend to its shareholders for the year ended on December 31, 2022.

The listed lender will hold its annual general meeting (AGM) on June 14, and the record date has been set for May 23 for the share entitlements.

According to the bank’s sources, its board of directors announced the dividend after reviewing its audited financial report of the year under review on Thursday.

The company’s earnings per share (EPS) stood at Tk 0.99 for the year 2022, against Tk 0.90 for the previous year.

The fourth-generation private commercial bank raised Tk 70 crore from the capital market through an initial public offering (IPO), and its share trading began on March 27 this year.

During the IPO subscription, the lender’s 25.96 per cent shares remained unsubscribed, a very rare case for a company listed in the country’s capital market.

The banks shares closed at Tk 11.30 per share on the DSE on Thursday.