MI Cement approves 10% cash dividend

MI Cement Factory Ltd, popularly known as Crown Cement, has approved 10 percent cash dividend for its shareholders for the year ended June 30, 2020.

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

The financial statements for 2019-20 and auditors’ report thereon; report of the board of directors; and re-election of directors in terms of the relevant provisions of the Articles of Association were approved at the meeting.

Additionally, appointment of statutory auditors and the corporate governance compliance auditors for the year ending June 30, 2021 as well as fixation of their remuneration were also approved in the AGM.

The proposal of winding up of the three fully-owned subsidiary companies of MI Cement Factory Ltd was also approved in the AGM.

Mohammed Jahangir Alam, chairman of MI Cement, presided over the AGM.

The AGM was also attended by Vice-chairman Md Alamgir Kabir, Managing Director Molla Mohammad Majnu, Additional Managing Director Md Mizanur Rahman Mollah, Director Md. Almas Shimul, Independent Directors Zakir Ahmed Khan and Prof Dr M Abu Eusuf, Chief Adviser to the Board Masud Khan, and Chief Executive Officer Md Mukter Hossain Talukder.

Sponsor Shareholders Md Ashrafuzzaman and Md Abdul Ahad, Chief Financial Officer (Current Charge) Md Abdul Kayum, and other senior officials of the company were present in the meeting,

Md Mozharul Islam, senior general manager and company secretary, conducted the meeting.