Square Pharma AGM approves 30pc cash, 15pc stock dividends

Square Pharmaceuticals Ltd approved cash dividend at the rate of 30 per cent and stock dividend (bonus share) at the rate of 15 per cent to its shareholders for the year ended March 31, 2014 at its 48th annual general meeting (AGM) held on its factory premises, Board Ghar Bazar, Kaliakoir, Gazipur on Thursday, said a press release.
The AGM was presided over by Chairman of the company Samuel S Chowdhury. Vice Chairman  Ratna Patra, Managing Director Tapan Chowdhury, Director Kazi Iqbal Harun, Independent Directors  M Sekander Ali and Barrister Nihad Kabir, Director (A&F) Md Kabir Reza and Company Secretary  Khandaker Habibuzzaman attended the meeting.
The gross profit, net profit (before tax) and net profit (after tax) for the year 2013-2014 were Tk 9,182.78 million, Tk 5,504.46 million and Tk 4,031.81 million respectively. Net sales and net profit rises to 16.43 per cent and 17.90 per cent respectively during the year 2013-14.
The company contributed an amount of Tk 5,113.39 million to the National Exchequer.
The board of directors appreciated the performance of the officers, staff and workers whose untiring efforts helped to optimise the profit of the company.
The directors expressed their gratitude and acknowledged with keen interest the cooperation and unflinching support received from various agencies including Bangladesh Securities and Exchange Commission (BSEC), stock exchanges, National Board of Revenue (NBR) and other agencies of the public and private sectors.
Shareholders attended the AGM and many of them took part in the discussion regarding the company's performance and future expansion.
At the end Mr Samuel S Chowdhury, Chairman and Mr Tapan Chowdhury Managing Director of the company, expressed their deep appreciation to the shareholders for their trust and support to the company's performance.