Friday | 17 January 2025 | Reg No- 06
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Friday | 17 January 2025 | Epaper

BSC approves 25pc cash dividend to shareholders

Published : Friday, 17 November, 2023 at 12:00 AM  Count : 186
Ashraful Islam
CHATTOGRAM, Nov 16: The 46th Annual General Meeting (AGM) of Bangladesh Shipping Corporation (BSC) has recommended payment of 25percent cash dividend to the shareholders.

The meeting held at The Radisson Blu Chattogram Bay View, hotel on Thursday was attended by State Minister for Shipping and Chairman of Bangladesh Shipping Corporation Khalid Mahmud Chowdhury, MP as chief guest in the AGM.

He said the net profit of BSC in the financial year 2022-23 was Tk 246 crore 29 lakh. Based on the profits of the corporation and considering the interests of shareholders, the Board of Directors recommended 25 percent cash dividend to shareholders. Based on profit the amount of dividend will increase in future.

Senior Secretary of the Ministry of Shipping Md Mostafa Kamal, Managing Director of BSC Commodore Md Ziaul Haque, Shareholder Kabir Ahmed Chowdhury, Abdul Wahab among others spoke on the occasion.

Khalid Mahmud Chowdhury said BSC was established to provide safe and efficient shipping services on international waterways and to transport most of Bangladesh's import and exports.

There is a plan to gradually add 21 sea-going vessels of various types to BSC fleet and implementation of the plan is already underway.

Keeping these plans in mind, the Bangladesh Flag Vessels (Protection of Interest) Act 2019 has already been passed. BSC will get priority in sea transportation of goods imported or exported with government funds.

The state minister also said BSC has been playing an important role in creating skilled manpower in the maritime industry. Arrangements are being made to recruit Bangladesh Marine Academy cadets on BSC ships every year.

Commodore Md Ziaul Haque, managing director of BSC, said that the total income in the fiscal year 2022-23 is Tk 667.23 crore; total expenditure is Tk 375.64 crore. The net income has increased by 20.48 percent compared to the previous financial year.
 
A foreign organization will help BSC with 3 billion dollars. There are plans to build dual fuel container ships to reduce carbon emissions. If BSC's income increases, more dividends will be paid to shareholders, he said.



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