LAHORE, April 28: The Muslim Commercial Bank has announced an interim cash dividend of Rs 1.50 per share for the first quarter of 2003 ending March 31.

The interim dividend was approved by MCB board of directors that met here on Monday with Mian Muhammad Mansha in the chair.

A news release issued by the bank here claimed that MCB was the only bank in the country which gave dividends on the basis of its quarterly performance.

In the year 2002, the bank had announced a bonus of 10 per cent per share for the first quarter of the year.

The MCB pre-tax profit during the first quarter of 2003 has increased to Rs 1.2 billion up 81 per cent from the last year, according to the release.