IFIC Bank Limited declared 15 percent stock dividend for its shareholders for the year 2013.

The announcement came at the 37th Annual General Meeting (AGM) of the bank held at the Bashundhara Convention Centre at Bashundhara Residential Area in Dhaka on Sunday. Salman F Rahman, Chairman, Board of Directors of the bank presided over the meeting.

Mohammad Lutfar Rahman, Chairman of the Executive and Risk Management Committee of the bank, Syed Anisul Huq, Chairman of Audit Committee and member of the Board, Monirul Islam, Mohammed Nayem Syed and Jalal Ahmed, Directors, Shah A Sarwar, Managing Director and AKM Mozharul Hoque, Company Secretary attended the meeting.

Different business related issues of last year and future work plans were discussed in the meeting.

The shareholders approved the audited financial statements of the bank for the year 2013. They also approved the proposals of issuance of 15 percent stock dividend, one rights share against every existing share and subordinate bond of Tk 3000 million.