Bashundhara Paper Mills Ltd (BPML), a sister concern of the Bashundhara Group, has approved a 10 per cent cash dividend to shareholders for the year ending June 2022.
The publicly traded company approved dividend payout with consent from the shareholders at its 29th Annual General Meeting (AGM) held virtually on Tuesday.
BPML board of directors joined the AGM online from Bashundhara Industrial Headquarters-2 at Bashundhara Residential Area in the capital Dhaka, reports Daily Sun.
Chaired by senior advisor and alternate director AR Rashidi, the meeting was attended by directors Mohammad Imrul Hassan, Nazmul Alam Bhuiyan, and independent director Khawaja Ahmedur Rahman on behalf of the Board.
BPML deputy managing director Mustafizur Rahman, chief financial officer Mirza Mujahidul Islam, and head of accounts Md Kamrul Hasan were also present.
Company secretary Mazedul Islam conducted the session.
Addressing the AGM, AR Rashidi said the annual demand for paper and paper associated products is around 896,000 metric tons and BPML retains 30 per cent market share amid severe competition.
The annual demand for tissue in the country is nearly 40,000 metric tons to which Bashundhara Paper Mills contributes 75 per cent.
Like other industries, paper sector is hard hit by the economic debacle triggered by Covid-19 pandemic and Russia-Ukraine war. Despite the adversities, BPML increased net profit worth Tk 96,600,000 after deducting tax which is 23.50 per cent higher than the previous year.
Besides, export earning has risen by Tk 1,853,800,000 which is 18.31 per cent more than the previous fiscal.
Bashundhara Paper Mills Ltd counted Tk 12,500,000 for corporate social responsibility (CSR).
Bashundhara Tissue has earned Best Brand Award for the fourth consecutive term.
Bd-pratidin English/Golam Rosul
