S Alam Cold Rolled declares 10% cash dividend

S Alam Cold Rolled Steels Limited, a concern of S Alam Group, has recommended a 10% cash dividend for the fiscal year 2020-21.

The board of directors of the company took the decision at a meeting held on Wednesday evening.

In the last fiscal, its earnings per share was Tk0.88, which was 60% higher than the previous year.

The company said in its statement that the profit increased due to revenue increase.

It was listed with the stock exchanges in 2006. Its share price fell by 4.07% to close at 33 on Wednesday at the Dhaka Stock Exchange.

The company was established in 2000 in Chattogram and started its commercial operation in 2004. At present, its annual production capacity is 1.20 lakh tonnes. 

Afterward, in order to meet the increasing demand of non-oxide furnace type sheet throughout the world and in this region, S Alam Cold Rolled set up a galvanising line with an annual capacity of 72,000 tonnes of sheets.