Square Textiles Ltd and Square Pharmaceuticals Ltd declared 10% and 47% cash dividends to their shareholders respectively on Tuesday.
According to press releases, the declarations came during the companies' Annual General Meetings (AGM) through virtual platforms for the year ended on June 30, 2020.
In its 25th AGM, Square Textiles revealed, the consolidated turnover, gross profit and net profit (After Tax) of the company for the year were Tk1,035 crore, Tk74.14 crore and Tk5.33 crore respectively.
Besides, the company contributed an amount of Tk8.15 crore to the national exchequer.
The AGM was presided over by the Chairman of the Company Tapan Chowdhury.
Ratna Patra, vice chairman; Samuel S Chowdhury, managing director; Anjan Chowdhury, director; Nihad Kabir and S.M. Rezaur Rahman, independent director; Md Kabir Reza, head of A and F; M Habibur Rahman, chief financial officer; and Sanjib Baran Roy, company secretary were present in the meeting.
Shareholders attended the AGM and many of them took part in a discussion regarding company's performance and future expansion.
Meanwhile, in its 54th AGM, Square Pharmaceuticals Ltd declared 5% stock dividend (Bonus Share) to its shareholders for the year ended on 30 June. The meeting was presided over by the company's Chairman Samuel S Chowdhury.
It was also revealed that the consolidated turnover, gross profit and net profit (After Tax) of the company for the year were Tk5,293 crore, Tk2,334 crore and Tk1,277 crore respectively.
Moreover, turnover and net profit rose to 4.05% and 8.94% respectively during the year under review.
The company contributed an amount of Tk1,232 crore to the national exchequer.
Ratna Patra, vice chairman; Kazi Iqbal Harun, director; Syed Afzal Hasan Uddin and SM Rezaur Rahman, independent director; Md Kabir Reza, head of A and F; Md Zahangir Alam, chief financial officer; and Khandaker Habibuzzaman, company secretary attended the meeting.
During the meeting, the Board of Directors appreciated the performance of the officers, staff and workers whose untiring efforts helped to optimize the profit of the company.
They expressed their gratitude and acknowledged with keen interest the co-operation and unflinching support received from various agencies including Bangladesh Securities and Exchange Commission, Stock Exchanges, National Board of Revenue and other agencies of the public and private sector.