|HeidelbergCement declares 21 pc dividends|
|The shareholders of HeidelbergCement Bangladesh Ltd. declared 16% cash and 5% per cent stock dividend;
total 21% dividend for the year 2006 at its annual general meeting held on Thursday, June 7, 2007 at Dhaka, said a press release.
The 18th Annual General Meeting of HeidelbergCement Bangladesh Ltd. was held on Thursday June 7, 2007 at Dhaka. The meeting presided over by Jean-Claude Jamar, Managing Director of the Company. Md. Ziaul Haque Khondker, A K M Jahangir Khan, Golam Farook, Jashim Uddin Chowdhury Directors and M Abul Hashem, General Manager & Company Secretary of the Company attended the meeting.
A large number of shareholders attended the meeting and unanimously approved the audited accounts for the year 2006 along with directors’ report for that period.
The Chairman in his welcome address to shareholders said that the year 2006 was an eventful and exceptional year in the Company’s history. Total cement production & sold exceeded 1 (one) million tons, was record breaking. Market share of Heidelbergcement regained at 12% against 10.7% in 2005.Despite various adverse factors; the company’s net profit growth was recorded at about 4% from last year. The Company did an exceptional result in last year and earned an Operating Income of Tk 724.942 million and Net Income of Tk 521.578 million as against Tk. 287.544 million and Tk. 139.852 million of the previous year. Thus earning per share raised to Tk. 97 from Tk. 26 in previous year.
He said the Company is endeavoring to upgrade and adopt new technology in production, as well as quality control of its product. International standard facilities are being employed in each and every step of the manufacturing and testing processes. He further said that to maintain company’s Market Share in Bangladesh growing market a second grinding line will be set up with capacity of 4.5 lac metric tons in Dhaka plant.
The shareholders expressed their satisfaction and expected Company’s success in the future.