Sunday May 11, 2025
Monday, 1 March 2021 00:28 - - {{hitsCtrl.values.hits}}
Commercial Bank has announced a first and final dividend of Rs. 6.50 per voting and non-voting share for the financial year 2020, involving a cash dividend and a scrip dividend.
The cash dividend will be Rs. 4.50 and the balance in the form of scrip. The move is subject to shareholder approval at the Annual General Meeting scheduled for 30 March.
The ex-dividend date (XD) will be 31 March, and the dividend will be paid on or before 23 April.
The number of Commercial Bank voting shares in issue is 1 billion and non-voting is 67.9 million. The amount to be capitalised is Rs. 2.198 billion for voting and Rs. 135.9 million for non-voting. Consideration of a share as at 16 February was Rs. 87.70 (voting) and Rs. 76.80 (non-voting).
The number of shares to be issued as scrip dividend is 25.06 million voting and 1.77 million non-voting.
The proportions at which the shares are to be issued are 1 for 43.85 (voting) and 1 for 38.4 (non-voting).
Commercial Bank said the number of voting shares will vary since the bank is required to accommodate new shares to be allotted under the existing ESOPs from 17 February up to four market days prior to the ex-dividend date.
The stated capital of the company as at 16 February was Rs. 52.2 billion.
In FY2020 Group Profit Before Income Tax recorded an improvement of 6.68% over the previous year to Rs. 24.520 billion. Profit Before Tax for the fourth quarter alone was up by an impressive 30.25% to Rs. 8.126 billion. Profit After Tax declined by 1.9% to Rs. 17.087 billion. However, net profit for the fourth quarter improved by a marginal 0.16% to Rs. 5.912 billion. At the bank level, a Profit Before Tax of Rs. 23.511 billion was recorded for 2020 up 5.25% from the previous year and Profit After Tax of Rs. 16.373 billion, a reduction of 3.83%.
Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.
Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.