Meghna Cement offers 25pc cash dividends
Meghna Cement Mills Limited (MCML), the manufacturer of King-brand cement and a sister concern of Bashundhara Group, offered its shareholders 25 percent cash dividends for last year (2011) from the profits earned through marketing the company’s high-quality construction material.
The board of directors of MCML recommended the dividends at its 20th Annual General Meeting (AGM) held on the factory premises in Mongla Port Industrial Area in Bagerhat on Thursday.
The Directors Report as well as the audited accounts of the company for the bygone year were received and adopted at the general meeting.
According to the Directors Report, the Company was able to earn a net profit of TK 6.65 crore in the past year compared to TK 5.02 crore in the year 2010, registering an annual increase of around 32.47 percent.
The present issued, subscribed and paid-up share capital of the company is TK 22, 50, 04,000 and the total number of shareholders is 12386 as of June 4, 2012. MCML has recommended 25% cash dividends on per value of the shares of this company for the year 2011.
Mahaboob Morshed Hasan, sponsor-director of the company, presided over the AGM.
Among the directors, Mustifizur Rahaman FCA, Eng. Md. Mahbub-uj Zaman and Asraf Hossain FCA and company shareholders were present on the occasion.
MCML, the first manufacturing enterprise of Bashundhara Group, is one of the largest cement-manufacturing industries in the country.
This enterprise was established in 1992 on the bank of Pashur river and in the industrial zone of Mongla Port which is connected with all parts of the country through rivers and roads.
MCML started its commercial operations on January 15, 1996. Following a successful public offerings (IPO), the company was listed on Dhaka and Chittagong stock exchanges in 1995 and 1996 respectively.
Current production capacity of MCML is approximately 1.0 million tonnes per annum.
Presently, MCML produces two types of cement-Ordinary Portland Cement (OPC) and Portland Composite Cement (PCC).
PCC is widely used in the country for all sorts of construction. “But now, few developers use OPC for improving strength of the infrastructures,” Abu Hena Mostafa Kamal, General Manager of Human Resources and Administration of MCML of Mongla Port Industrial Area, told daily sun
According to the MCML there are four grinding mills in MCML with an aggregate production capacity of 3,000 tonnes per day and these mills are equipped with high- efficient separators to segregate fine particles from the coarse ones.
The industry enjoys a unique facility in cargo handling both in receiving raw materials and in dispatching finished products through its two jetties suitable for berthing sea-going vessels.