SABINCO approves Tk 210m cash dividend

The SABINCO approved Tk 210 million cash dividend in its 36th annual general meeting (AGM) held on a digital platform in the city on Saturday, said a press release.

Chairman of the Company Ahmed M Al-Ghannam presided over the AGM. The AGM was informed that the company had earned a net profit of Tk 337.95 million in the year 2019.

The meeting reviewed the operational performance, accounts and investment portfolio of the company for the year that ended on December 31, 2019.

SABINCO is a joint venture financial institution equally owned by the government of Bangladesh and the government of the Kingdom of Saudi Arabia.

Md Zafar Iqbal, additional secretary, Financial Institutions Division, Ministry of Finance, Government of Bangladesh and Sultan Abdulrauf, director for SABINCO, from the government of the Kingdom of Saudi Arabia, represented their respective shareholders in the meeting.

Other members of the board of SABINCO who attended the meeting were Abdur Rouf Talukder, secretary, Finance Division (Deputy Chairman), Fatima Yasmin, secretary, Economic Relations Division, Ministry of Finance and Mohammad Salahuddin, joint secretary and PS-1 to the Prime Minister representing government of the Bangladesh, and Sultan Abdulrauf and Mohammed H Alshuhail, representing the government of the Kingdom of Saudi Arabia.

Ahmed Ehsanul Karim, managing director (Acting) and other senior members of the management, were also present at the meeting.