IDCOL hands over Tk70 crore to govt from its net profit
The state-owned financial institution Infrastructure Development Company (IDCOL) has paid a dividend of Tk70 crore to the government on the net profit of the last financial year 2022.
Sharifa Khatun, secretary of Economic Relations Department (ERD) and chairman, IDCOL, formally handed over the dividend check to Finance Minister AHM Mustafa Kamal at the Ministry of Finance, reads a press release.
After receiving the cheque, the finance minister said, "IDCOL has set an example in financing the infrastructure development, energy and renewable energy sectors of Bangladesh."
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It is to be noted that in the previous financial year, IDCOL had paid a dividend of Tk50 crore to the government.
During FY 2022 IDCOL's profit before tax and provision was Tk698.79 crore. In IDCOL's 26th AGM, a total of Tk120 crore from the profit made by IDCOL during FY 2022 was declared as dividends.
The dividends are - An amount of Tk70 crore to be paid to the government as cash dividend; and Tk50 crore be used for increasing the company's paid-up capital to Tk838 crore from the existing Tk788 crore by way of issuing bonus shares.
Also present on the occasion was Abdul Haque, director, IDCOL and Managing Director, Haq's Bay Automobiles Ltd; Alamgir Morshed, executive director and CEO, IDCOL; SM Monirul Islam, deputy CEO and CFO, IDCOL; Md Enamul Karim Pavel, head of Renewable Energy, IDCOL and other IDCOL officials.
