Square Textiles Limited declared cash dividend at the rate of 16 per cent and stock dividend (Bonus Share) at the rate of 20 per cent to its shareholders for 2011, says a press release. The declaration came at the company’s 17th annual general meeting (AGM) held at Sardaganj at Kashimpur in Gazipur on Tuesday.
The AGM was presided over by the Chairman of the Company Samuel S Chowdhury.
Ratna Patra, vice chairman, Tapan Chowdhury, managing director--Anjan Chowdhury, Charles C R Patra—directors, M Sekander Ali, independent director; Md. Kabir Reza, director (A&F), Md. Alamgir Hossain, chief financial officer and Khandaker Habibuzzaman, company secretary, were present in the meeting.
The gross profit, net profit (Before tax) and net profit (After tax) for the year 2011 were Tk 1,070.75 million, Tk 729.62 million and Tk 620.17 million respectively.
The company contributed an amount of Tk 126.01 million to the National Exchequer.
The company also contributed substantially to the Foreign Exchange Reserve of the country through its marketing operation during 2011.
This amounted to Tk 1,364.48 million. The directors expressed their gratitude and acknowledged with keen interest the co-operation and unflinching support received from various agencies including Securities and Exchange Commission, Stock Exchanges, National Board of Revenue and other agencies of the public and private sector.
Shareholders attended the AGM and many of them took part in the discussion regarding company’s performance and future expansion.
At the end, Tapan Chowdhury on behalf of the chairman expressed his deep appreciation to shareholders for their trust and support to the company’s performance.