HNB announces cash and scrip inclusive final dividend prior to results

Hatton National Bank on Friday announced a cash and scrip inclusive final dividend prior to the release of 2020 results. 

The twin move is part of the final dividend of Rs. 8 per share. HNB said it will be in the form of Rs. 4.50 per share in cash and Rs. 3.50 via a scrip dividend.

HNB has 410.319 million Voting shares and 101.65 million Non-Voting shares in issue.

The number of shares to be issued on the basis of Rs. 3.50 as dividend per existing share is 10.54 million (Voting) and 3.38 million (Non-Voting); the amount to be capitalised will be Rs. 1.43 billion and Rs. 355.79 million, respectively. 

The value of a share as at 18 February (the last trading day prior to the Board meeting) was Rs. 136.25 (Voting) and Rs. 105 (Non-Voting).

The proportions with which the shares are to be issued are 1 for 38.92 (Voting) and 1 for 30 per Non-Voting.

HNB final results for 2020 are yet to be released whilst few other banks such as Sampath, NDB, DFCC and Pan Asia have announced. 

HNB Annual General Meeting is scheduled for 30 March when the final dividend will be subject to shareholder approval. The cash dividend will be paid on 12 April.