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Citizens Bank to award 10% cash dividend
Published by Octron on August 4, 2009
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The 56th BOD meeting of Citizens Bank International Ltd held on 2nd August 2009 (2066 Shrawan 18) decided to give 10% cash dividend from the profit of F/Y 2065/66. The subject is yet to get approval from the central bank. CZBIL has recently published its fourth quarter financial report posting Rs. 95.810 million net profit for the fiscal year 2065/66. The market price of the bank as of 3rd August 2009 is Rs. Rs. 659. Many people who were expecting right shares of CZBIL might be disappointed with the 10% dividend scheme, who reaction could be seen in the market pretty soon. Afterall, when NTC gives 25% dividend, the price hovers around Rs. 600, so you can guess how much the price might fall.
Even the finance companies give more than that, cooperatives give 10% dividends to its shareholders. CZBIL might be the first bank, who is taking advantage of recent monetary policy. What do you think guys, the future price of CZBIL ?
Source: Jamb
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