Owing to the failure to pay or declare dividends for its shareholders, the Dhaka Stock Exchange (DSE) downgraded the bank to the Z category from the B category on 2 May
Rupali Bank PLC has now decided to pay its shareholders a 5% stock dividend for 2023.
The decision came after its board of directors held a meeting on Saturday (8 June).
A month ago on 2 May, the bank decided not to pay any dividends for 2023 despite a 121% growth in its earnings per share (EPS) to Tk1.35 for 2023.
In 2022, the bank also did not pay dividends to its shareholders.
Owing to the failure to pay or declare dividends for its shareholders, the Dhaka Stock Exchange (DSE) downgraded the bank to the Z category from the B category on 2 May.
In price-sensitive information (PSI) on Saturday, the bank said the board of directors reviewed the earlier declared dividend, and the board declared a 5% stock dividend for 2023, which is subject to the approval of the Bangladesh Securities and Exchange Commission (BSEC).
Source: The Business Standard