BOC AGM approves 77pc cash dividend
Wednesday, 13 May 2009
BOC Bangladesh Limited held its 36th annual general meeting at the Officers Club on Baily Road in the city Tuesday.
A final dividend of 77 per cent was approved by the shareholders at the meeting. Earlier, the company had paid 100 per cent cash interim dividend.
The annual accounts for the year ended on December 31, 2008 were approved by shareholders at the AGM. The company registered a turnover growth of nearly 25 per cent over the previous year.
It was considered commendable by the Chairman M Syeduzzaman referring to what had been a somewhat difficult year for the country going through an unusual political process, which ended with a national election.
The gloom surrounding the global financial meltdown was setting in towards end of the year.
Earning of Tk 359.342 million was a significant progress in comparison to Tk 263.651 million of last year.
The chairman appreciated the achievement particularly in view of the unprecedented hike in raw materials and petroleum product costs, and the accelerated inflationary pressures.
Earnings benefited to a great extent from interest income received from a very healthy cash balance.
Reappointment of Waliur Rahman Bhuiyan, OBE as managing director for a further period up to December 31, 2011 was also approved at the meeting.
Binod Patwari, Latifur Rahman and Ayub Quadri retired by rotation and were re-elected as directors of the company.
A final dividend of 77 per cent was approved by the shareholders at the meeting. Earlier, the company had paid 100 per cent cash interim dividend.
The annual accounts for the year ended on December 31, 2008 were approved by shareholders at the AGM. The company registered a turnover growth of nearly 25 per cent over the previous year.
It was considered commendable by the Chairman M Syeduzzaman referring to what had been a somewhat difficult year for the country going through an unusual political process, which ended with a national election.
The gloom surrounding the global financial meltdown was setting in towards end of the year.
Earning of Tk 359.342 million was a significant progress in comparison to Tk 263.651 million of last year.
The chairman appreciated the achievement particularly in view of the unprecedented hike in raw materials and petroleum product costs, and the accelerated inflationary pressures.
Earnings benefited to a great extent from interest income received from a very healthy cash balance.
Reappointment of Waliur Rahman Bhuiyan, OBE as managing director for a further period up to December 31, 2011 was also approved at the meeting.
Binod Patwari, Latifur Rahman and Ayub Quadri retired by rotation and were re-elected as directors of the company.