Usmania Glass approves 20pc div

Our Correspondent CHITTAGONG, November 26: Usmania Glass Sheet Factory held its 25th annual general meeting (AGM) yesterday at the factory premises. The meeting was chaired by chairman of the BCIC and UGSFL company board Mr Golam Rabbani. The Chairman presented the directors' report for the financial year 2010-11 in presence of a large number of shareholders. The Chairman, MD and the Directors replied to different queries of the shareholders. Thereafter, the report and the audited accounts were approved unanimously. In the report the company officials said the UGSFL fulfilled its production target as it produced 21:00 million square feet of sheet glass against the target of 21:005 million sft. The company also sold 21:834 million sft sheet glass against the target of 21:00 mln sft earning net profit of Tk 1.122 million in the last financial year. 20 per cent stock dividend was declared by the management. The Chairman sought cooperation of all so that the company can pay regular dividends to the shareholders in future. The shareholders after evaluating the company's performance expressed satisfaction and thanked the board of directors and the company management.