The Board of Directors of Islami Bank Bangladesh Limited (IBBL) has recommended a 15 percent cash dividend for the shareholders for the year 2014 subject to approval at the 32nd Annual General Meeting of the bank.
This was decided in a meeting of the Board held at Islami Bank Tower on Saturday with its acting Chairman Engineer Mustafa Anwar in the chair, said a press release.Local and Foreign Directors of the Board along with its Managing Director Mohammad Abdul Mannan attended the meeting.
The meeting approved the Profit & Loss Account and Balance Sheet for the year ending on December 31, 2014. The Board also decided to hold 32nd Annual General Meeting of the bank on June 13, 2015. The record date for dividend has been fixed at April 16, 2015.
It was also decided that the annual profit rate of Mudaraba Perpetual Bond of the bank is 11.18 percent for the year 2014 which is the sum of 9.68 percent final rate of profit of eight years term Mudaraba Savings Bond and 10 percent of the declared Dividend. The Profit of the Bond will be distributed within 30 days from holding of the AGM.
The meeting expressed satisfaction while evaluating the performance of the bank over the success and progress achieved so far and took some important business decisions.
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