Jamuna Bank approves 22pc stock dividend for 2017

The shareholders of Jamuna Bank Limited has approved 22 percent stock dividend for the year 2017. The company’s earnings per share (EPS) rose to Tk 3.29 in 2017 from Tk 3.06 in the previous year.

The bank has given 20.5 percent cash dividend for the year ending on December 31, 2016. In 2015, it offered 19.5 percent cash dividend and its EPS was Tk 2.67.
The net income of the bank has stood at Tk 2,021.01 million in 2017, which is 7.71 percent higher than the previous year’s figure of Tk 1,876.36 million.

Total deposit of the bank was Tk 167,571.33 million, marking a 18.38 percent growth from the previous year’s amount of Tk 141,550.96 million. Loans and advances of the bank posted 21.48 percent growth in 2017 from that of the previous year. The figures were Tk 142,252.94 million in 2017 and Tk 117,099.61 million in 2016.
The bank’s net asset value per share (NAVPS) declined to Tk 25.13 in 2017 from Tk 25.81 in the previous year.

On Monday, price of share of Jamuna Bank declined by Tk 0.1.  The figures were Tk 15.70 on Monday and Tk 15.80 on Sunday.
The Bank started its debut trading in 2006 with the face value Tk 10 per share.
Market data shows, 258,610 shares of the Jamuna Bank Limited were traded on the floor of the Dhaka Stock Exchange (DSE) on Monday and its market value stood at almost Tk 4.10 million on the day.

The authorized capital of the bank listed on the stock market was Tk 10,000 million and the paid up capital was Tk 6,141.19 million as on 2017.
The sponsor-directors own 50.24 percent stake in the bank, while the institutional investors 4.07 percent and the general public 45.69 percent as on May 31, 2018, according to the DSE data shows.

Mehedi Hasan, vice president and head of treasury of Jamuna Bank Limited speaking to the Bangladesh Post said: “We gave a good dividend this time to share holders. We have given 22 percent stock dividend because of we want to expand exposures as well as increase business portfolio.” He said the competitions have increased among the banks. Hence, banks cannot make more profit to charge more interest on loan.

Even, the government wants to bring down interest rate to single digit for lending. Hence, the central bank should give some additional supports to the banks to stay this current competition among them.

Ariful Islam