Chittagong, Bangladesh (BBN)- BSRM Steels Limited has approved 15 percent cash dividend for its shareholders.
The approval came at its 12th annual general meeting (AGM) at the Institution of Engineers, Bangladesh, Chittagong Centre on Thursday, a company statement said.
On the occasion, the company chairman Alihussain Akberali informed BSRM has registered higher sales even though the country witnessed a disturbed period due to political unrest and completed 2013 with a 38.23 per cent growth in profit after tax amounting to BDT 1,196.10 million.
"To secure supply of basic raw material for MS Rod, BSRM Group of Companies is going to set up a new billet making plant with 862,000 MT annual production capacity at Mirsarai which would be the largest ever billet manufacturing plant in the world based on Induction furnace technology", he added.
BBN/SSR/AD-25Apr14-12:47 pm (BST)