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| Sunday, 29 May 2005 |
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Business |  |
| News Business Features Editorial
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People's Merchant Bank proposes 20% dividend The Board of Directors of People's Merchant Bank Limited (PMBL) has proposed a first and final gross dividend of 20%, to be approved at the forthcoming annual general meeting. This will be the highest ever dividend payout by PMBL. This has been possible due to the very good performance in the year ending March 31, 2005 during which period the Leasing Division, the Branches and Trade Finance Division brought in excellent results and the Corporate Finance and the Real Estate Divisions produced commendable performances. Consequent to the announcement on Tuesday May 17, the PMBL share peaked at Rs. 39 per share. At the end of the fourth quarter, PMBL successfully raised low cost medium term finances to the value of Rs. 60 million through an issue of lease backed trust certificates. This is the second such issue by PMBL having successfully raised Rs. 100 million through another issue during 2003. These funds will be utilised to further augment the Bank's lease and hire purchase portfolios. |
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