AB Bank yet to secure regulatory nod for stock dividend issuance

Although its record date for the entitlement of the bonus share is only a single day away from the previously announced record date of May 23, AB Bank could not so far secure the regulatory approval to distribute a 2 per cent stock dividend for the year ending in December 2022.

The listed bank in a filing with the Dhaka Stock Exchange (DSE) said on Sunday they could not yet secure the consent from the Bangladesh Securities and Exchange Commission (BSEC) on the issuance of the stock dividend for last year.

Earlier on May 2, the listed lender declared a 2 per cent bonus dividend to its shareholders for the year ending in December 2022,

The move was designed to increase its paid-up capital, and the retained amount would be used to strengthen the capital base, helping the bank enhance its business capacity, as per a previous DSE filing.

Meanwhile, United Commercial Bank received approval from the BSEC to distribute a 5 per cent stock dividend for the fiscal year ending December 31, 2022, said another DSE disclosure.

Similarly, IFIC Bank also received consent from the BSEC to increase its paid-up capital by issuing a 2.50 per cent stock dividend for the year ending in December 2022.