The board of directors of Southeast Bank has recommended 20 per cent cash dividend for the year ended on December 31, 2016, said an official disclosure on Sunday.

The board has also decided to issue rights shares at the rate of 1R:2 (one rights share for two existing shares) at an issue price of Tk 12.50 including premium of Tk 2.50 per share subject to approval of shareholders in the extraordinary general meeting (EGM) and regulatory authorities – Bangladesh Bank and the Bangladesh Securities and Exchange Commission (BSEC).
The board has also approved to form a fully owned subsidiary company to run the Bank’s Mobile Financial Services brand named “Telecash” subject to approval from the regulatory authorities and shareholders in the EGM.
The bank has also reported consolidated earnings per share (EPS) of Tk 2.66, consolidated net asset value (NAV) per share of Tk 28.93 and consolidated net operating cash flow per share (NOCFPS) of Tk 12.57 for the year ended on December 31, 2016 as against Tk 3.35, Tk 29.67 and Tk 3.85 respectively for the same period of the previous year.
Another record date for entitlement of the proposed rights shares will be notified later after obtaining approval from BSEC.
The EGM and AGM will be held on May 22 at 10:30 am and and 11am respectively at Officers’ Club in Dhaka.
The record date for EGM and AGM is April 27.
There will be no price limit on the trading of the shares of the bank today (Sunday) following its corporate declaration.
Each share of company, which was listed on the Dhaka bourse in 2000, closed at Tk 20.70 on Thursday, the last trading session of the week.
The bank disbursed 15 per cent cash dividend in 2015.
The bank’s paid-up capital is Tk 9.16 billion and authorised capital is Tk 15 billion, while the total number of securities is 916.95 million.
The sponsor-directors own 32.36 per cent stake in the bank, while institutional investors 29.73 per cent, foreigners 6.16 per cent and the general public 31.75 per cent as on February 28, 2017, the DSE data shows.