ACI Formulations declares 25pc cash dividend
Friday, 18 June 2010
The shareowners of ACI Formulations Limited approved cash dividend @ 25 per cent i.e. Tk 2.5 per share of Tk 10 each for the year ended on 31 December, 2009.
The approval was given at the 14th annual general meeting (AGM) of the company in the city Wednesday with company chairman and managing director M Anis Ud Dowla in the chair. The meeting was attended by a large number of shareowners.
The chairman told the shareowners that the company performance both in sales and manufacturing has been commendable.
The chairman also informed the shareowners that the company's Sulpher manufacturing plant is ready for commercial production. The annual capacity of the plant is 3000 tonnes per year which is 40 per cent of the national requirement.
The financial results presented to the shareowners showed marginal fall in sales turnover (less than 1.0 per cent) to Tk 2.07 billion from Tk 2.09 of 2008. The gross profit, however, increased by 20.5 pc to Tk. 0.49 billion and profit after tax has decreased to Tk. 0.16 billion from Tk 0.20 billion of 2008 lower by 21.7 per cent.
During 2009, the company contributed Tk 0.11 billion to the National Exchequer in the form of corporate tax, customs duty, VAT etc. This is equivalent to 5.24 per cent of the company's net sales revenue for the year 2009.
The approval was given at the 14th annual general meeting (AGM) of the company in the city Wednesday with company chairman and managing director M Anis Ud Dowla in the chair. The meeting was attended by a large number of shareowners.
The chairman told the shareowners that the company performance both in sales and manufacturing has been commendable.
The chairman also informed the shareowners that the company's Sulpher manufacturing plant is ready for commercial production. The annual capacity of the plant is 3000 tonnes per year which is 40 per cent of the national requirement.
The financial results presented to the shareowners showed marginal fall in sales turnover (less than 1.0 per cent) to Tk 2.07 billion from Tk 2.09 of 2008. The gross profit, however, increased by 20.5 pc to Tk. 0.49 billion and profit after tax has decreased to Tk. 0.16 billion from Tk 0.20 billion of 2008 lower by 21.7 per cent.
During 2009, the company contributed Tk 0.11 billion to the National Exchequer in the form of corporate tax, customs duty, VAT etc. This is equivalent to 5.24 per cent of the company's net sales revenue for the year 2009.