IFIC Bank Limited (IFIC Bank) has approved 15 per cent stock dividend for its shareholders for the year that concluded on December 31, 2014.
The approval came at the 38th annual general meeting (AGM) of the Bank held at the Bashundhara Convention Centre-2 in the city's Baridhara area on Wednesday, said a press release.
The bank's Board of Directors' Chairman Salman F Rahman presided over the meeting.
IFIC Bank board members, Managing Director and Chief Executive Officer (CEO) Shah A Sarwar and a good number of shareholders of the bank were also present in the AGM.
The shareholders present in the meeting approved the audited financial statements of the bank for the same year.
The appointment of Anwaruzzaman Chowdhury as independent director of the bank for three years subject to approval of regulatory bodies was also approved in the meeting.
The shareholders also approved the proposal for issuance of non-convertible bond 'IFIC Subordinated Debt' for raising the Tier-II capital for Tk 3,500.00 million subject to approval of regulatory authorities.