United Commercial Bank declares 10% dividend

United Commercial Bank (UCB) today announced a 10 percent dividend, including a five percent cash dividend, for the year that ended on December 31, 2023.

The announcement came at the bank's 41st annual general meeting (AGM), which was held virtually, according to a press release.

Bashir Ahmed, vice-chairman of the bank, presided over the meeting.

In his speech, Ahmed said that UCB had generated attractive financial results in the previous year, logging tremendous growth in areas such as operating profit, loan and advances, and deposits.

He also expressed that UCB would continue to serve the interests of shareholders, clients and communities.

Arif Quadri, managing director and CEO, said UCB developed a balanced and sustainable business model against all obstacles through organic growth.

ATM Tahmiduzzaman, company secretary, conducted the programme, where Touhid Shipar Rafiquzzaman, independent director and chairman of the audit committee, and Nurul Islam Chowdhury, chairman of UCB Foundation, were present.

Bazal Ahmed, Asifuzzaman Chowdhury, Md Nasim Kalam, Masuma Parvin, Syed Kamruzzaman, Muhammed Shah Alam, Kanak Kanti Sen, and Md Aksed Ali Sarker, directors of the bank, attended the AGM.

Among others, Aparup Chowdhury, Iftekhar Uddin Chowdhury and Md Abdul Hannan, independent directors, Mohammad Abdur Rashid, chairman of the Shariah supervisory committee, and Faruk Ahammed, chief financial officer, were also present.