UGSFL AGM approves 11pc cash, 10pc stock dividends

Our Correspondent

CHITTAGONG, March 8: The Usmania Glass Sheet Factory Ltd in its annual general meeting on Friday approved 11 per cent cash and 10 per cent stock dividend for the financial year 2012-13. The declaration of the company was adopted by the shareholders with cheer.

The 27th AGM was held at the factory premises in Chittagong city with BCIC chairman Md Munsur Ali, ndc, also chairman of the UGSFL board.

During the financial year 2012-13 the UGSFL produced 25.425 million square feet glass against the target of 22.80 million sft. Installed capacity of the factory is 21.00 million. The company sold 26.094 million sft of sheet against the target of 22.80 million sft. During the said financial year the company earned after-tax profit of Tk 37.34 million.

The shareholders expressed their satisfaction and thanked the board of directors and company management on evaluation of the company's activities such as production, sales and profitability.

According to Company's Act 1994, Md Munsur Ali Sikder and Md Zahidul Bari from group A amongst the directors retired and they were re-nominated and Mahboob Hossain retired from group B while Habibur RAhman was elected from the group in the AGM, said a press release.