The board of directors of Meghna Cement
Mills Limited (MCML), the manufacturer of King Brand Cement and a sister
concern of Bashundhara Group, on Saturday declared 15 percent cash dividends
for its shareholders.
The forward-looking management of the
MCML announced the dividends for the year ended on December 31, 2014 at its
23nd Annual General Meeting (AGM) held on the factory premises in Mongla Port
Industrial Area of Bagerhat.
In a festive manner of the AGM, the
Directors’ Report as well as the audited accounts of the company for the year
were received and adopted in the AGM.
According to the Directors’ Report, the
enlisted company with the capital market, Meghna Cement could secure a net
profit of Tk 10.07 crore (after tax). Besides, the company’s Earning Per Share
(EPS) is Tk 4.48.
According to the annual report, the
company paid Tk 88.73 crore to government exchequer as tax, duty and VAT in
2014 which was Tk 117.93 crore in 2013.
Meghna Cement’s sponsor director
Mahaboob Morshed Hasan chaired and also addressed the function as chief guest
while independent director Khawaja Ahmedur Rahman and Moynal Hossain Chowdhury,
advisor (Treasurer) of Bashundhara Group (BG), AR Rashidi, senior advisor of
BG, Engineer AKM Mahbub-Uz-Zaman, deputy managing director of Bashundhara Group
(Cement Sector), Mohammad Tawhidul Islam, deputy managing director East West
Property Development (EWPD), Major General (Retd.) Mahbub Haider Khan, advisor
of BG, Mohammad Abu Tayeb, adviser (press and media) of BG and company
secretary Naseemul Hye FCS were also present.
In his welcome speech, Mahaboob Morshed
Hasan said “We have been running the company for two decades and we have
established it as an established company among the other cement factories in
the country.”
Describing company’s journey, he said
“The year of 2014 was eventful due of political turmoil which disrupted the
country’s economic growth. Despite the political unrest as well as multifarious
drawbacks in cement business the company has declared 15 percent cash dividends
for its shareholders.”
The number of consumers of cement is not
very big in the country, he said adding that the demand of cement would
increase if public welfare related infrastructural works start.
He also said, “Our Company would bag
more profit and prosperity in future if the shareholders as well as its
officials concerned continue their sincere all-out support.”
A large number of shareholders also
attended the AGM. Besides, some shareholders also spoke at programme to present
their suggestions and impression about the business of the company.
Mohammad Mojammel Haque, one of the
shareholders, said, “We are very much impressed that Meghna Cement has declared
dividends for us despite political unrest in 2014… we hope that the company
will make a handsome profit in the future.”
Another shareholder Towhidur Rahman said
“As the brand name is ‘King’ we want our company should stay in the market like
king. So my expectation is that the board of directors will work for that.”
The 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 the Pashur river and in the industrial zone of Mongla Port which
is connected with all parts of the country through rivers and roads.
The MCML started its commercial
operations on January 15, 1996. Following a successful public offerings (IPO),
the company was listed in Dhaka and Chittagong stock exchanges in 1995 and 1996
respectively.
(Source: press release)