Eastern Bank approves 25% dividend for 2021

Eastern Bank Limited (EBL), a leading private sector financial institution of the country has approved 25 per cent dividend for the year 2021 ended on December 31.

The dividend includes 12.5 per cent cash and 12.5 per cent stock.

The shareholders unanimously approved the dividend at the 30^th Annual General Meeting (AGM) held on a digital platform, the bank said in a statement on Thursday.

Presided over by Md Showkat Ali Chowdhury, chairman of the Board of Directors of EBL, the AGM was also attended by the Directors M Ghaziul Haque, Mir Nasir Hossain, Salina Ali, Mufakkharul Islam Khasru, Gazi Md Shakhawat Hossain, KJS Banu, Zara Namreen, Ashiq Imran, Dr Toufic Ahmad Choudhury, and Ruslan Nasir.

Md Showkat Ali Chowdhury said when the coronavirus pandemic made everything look bleak; EBL managed to emerge from the situation with renewed strength and had demonstrated financial integrity, maintaining profitability throughout the year. 

EBL reported a consolidated Tk 4,800 million profit after tax in 2021, a significant year-on-year growth of 14.83 per cent. EBL’s Cost to Income Ratio was 39.10 per cent while earnings per share was Tk 5.03. The bank’s total assets stood at Tk 3,92,187 million at the end of 2021.   

Ali Reza Iftekhar, managing director and CEO, and Md Abdullah Al Mamun, FCS, company secretary, other senior officials of the bank, and a large number of shareholders joined the meeting online.