SBAC approves 4% dividends

South Bangla Agriculture and Commerce (SBAC) Bank Limited has announced 1 percent stock and 3 percent cash dividends for its shareholders for the year ended on December 31, 2021.

The dividend payout was recommended at a meeting of the bank’s 9th Annual General Meeting (AGM) held on June 23.

The meeting was presided by Abdul Kadir Molla, chairman of the bank on digital platform.

The chairman of the meeting in his speech to shareholders said that due to the Covid-19 epidemic, the last two years have been extremely challenging for the banking sector.

SBAC Bank's efficient management is working to address the emerging situation, he said.

“Our bank will be continuing to serve the interest of shareholders, clients and communities on the whole,” he added.

Among other directors, Vice Chairman Al-Haj Mizanur Rahman virtually attended the AGM.

Managing Director & CEO of SBAC Bank, Mosleh Uddin Ahmed and Company Secretary Md. Mokaddess Ali was also present at the program.

MD & CEO Mosleh Uddin Ahmed said, “We want to transform this bank into a public welfare and business success organization. Hopefully, the bank will be able to make the desired profit in the future.”

The bank debuted on the stock market on August 11, 2021. The last trading price of the company’s share was Tk 11.30.