Crown Cement approves 10% cash dividend

MI Cement Factory Ltd, popularly known as Crown Cement, has approved a 10% cash dividend for its shareholders for the financial year of 2019-2020 that ended 30 June.

The approval came at the 26th annual general meeting (AGM) of the company held via a digital platform on Tuesday, read a press release.

The financial statements for 2019-2020, auditors' report thereon, report of the board of directors, re-election of directors in terms of the relevant provisions of the Articles of Association of the company, appointment of statutory auditors and corporate governance compliance auditors for the year ending 30 June 2021, as well as determination of their remuneration were approved at the AGM, it added.

The proposal to wind up the three fully-owned subsidiary companies of MI Cement was also approved at the meeting.

Mohammed Jahangir Alam, chairman of MI Cement presided over the AGM. It was conducted by Md Mozharul Islam, FCS, senior general manager and company secretary.

The company's Vice-Chairman Md Alamgir Kabir, Managing Director Molla Mohammad Majnu, Additional Managing Director Md Mizanur Rahman Mollah, and Director Md Almas Shimul attended the AGM.

Independent directors Zakir Ahmed Khan and Professor Dr M Abu Eusuf; Chief Adviser to the Board Masud Khan, FCA, FCMA; Chief Executive Officer Md Mukter Hossain Talukder, FCA; sponsor shareholders Md Ashrafuzzaman and Md Abdul Ahad; Chief Financial Officer (Current Charge) Md Abdul Kayum, FCMA, and other high officials of the company were present as well.