B Mirror Report: Uttara Bank PLC will no longer need prior approval from the Bangladesh Securities and Exchange Commission (BSEC) to declare stock dividends after meeting the required shareholding threshold by its board of directors.

According to sources at the Dhaka Stock Exchange (DSE), the bank’s board now holds a combined 30.531 per cent stake, exceeding the minimum requirement of 30 per cent.

The change comes following the appointment of Asif Rahman as a shareholder-director at the bank’s 856th board meeting held on April 29, 2026. He owns 2.42 per cent shares in the bank.

The position had remained vacant from July 29, 2025 to April 28, 2026. After his inclusion, the board recommended stock dividends for the 2025 financial year.

Officials said Rahman’s shares are currently held in the block module of Central Depository Bangladesh Limited (CDBL), and the board’s total shareholding rose again above the required level on April 29.

With this compliance, the bank can now declare stock dividends without seeking prior approval from the regulator. However, it will still require final approval from the BSEC after obtaining consent from shareholders before distributing the declared dividends.

In 2025, Uttara Bank announced a 5 per cent cash dividend along with a 25 per cent stock dividend for its shareholders.