Southeast Bank declares 21pc dividends

Southeast Bank Limited

Alamgir Kabir, Chairman, Southeast Bank Limited, presides over the 19th Annual General Meeting of the bank at Bashundhara in Dhaka on Monday.

 Southeast Bank Limited declared 16 percent cash and 5 percent bonus dividends for its shareholders for the year 2013.

The announcement came at the 19th Annual General Meeting (AGM) of the bank held at Bashundhara Convention Centre-2 at Baridhara in Dhaka on Monday.

Bank’s directors, sponsors and large number of shareholders attended the meeting.

Alamgir Kabir, FCA, Chairman of the bank, presided over the AGM.

Shahid Hossain, Managing Director of the bank in his address highlighted the bank’s operational performance in 2013 and outlined the future plans and programmes undertaken by the bank to boost up operational efficiency and profitability of the bank.

The AGM discussed the bank’s operational performance. The bank earned an operating profit of Tk 6,700.20 million in 2013.

As on 31st December, 2013, the bank’s total deposits amounted to Tk 177,519.46 million, total assets reached Tk 220,930.85 million. Its Earning Per Share (EPS) was Tk.3.87 (consolidated), Net Asset Value Per Share was Tk 25.11 (consolidated) and Net Operating Cash Flow per share was Tk.23.58 (consolidated).

The Price Earning Ratio of the bank was 4.68 times in 2013. The Capital and Reserves of the bank soared to a record high of Tk 21,807.57 million as on 31st December 2013.

The shareholders approved 16 percent cash dividend and 5 percent stock dividend and also the financial statements of the bank for the year 2013. Shareholders also elected directors and approved appointment of external auditors for the year 2014.

News Source:Daily Sun
Date: 1-Apr-2014

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