BSRM Steels Limited on Thursday declared 15% cash dividends to their shareholders for the financial year 2019-20.
According to a press release, the cash dividends were declared in the company's 18th Annual General Meeting on the day. The meeting took place virtually.
Alihussain Akberali FCA, chairman of the company presided over the meeting, it added.
In his welcoming speech Akberali, said the company could not achieve expected profit due to the Covid-19 pandemic. However, it avoided major losses by efficient operational and financial management.
He also praised various government initiatives like sanction of 4.5% stimulus packages for corporate houses which supported them in this adverse situation.
Audited Accounts for the financial year that ended on 30 June, along with the Report of the Board of Directors were also approved in the meeting.
Shareholders of the company approved the appointment of Directors, Professional Accountant and Auditors for the year 2020-21.