Dhaka, Bangladesh (BBN) – Dhaka Electric Supply Company Ltd (DESCO) has approved 10 percent cash dividend and 25 percent stock dividend for the fiscal year 2010-11.

It was approved in the company’s 15th annual general meeting (AGM), held at Bashundhara Convention Centre in the city on January 15.

The AGM was also informed that the company has earned BDT 1.48 billion net profit, and its client number has reached 0.45 million in the fiscal 2010-11.

Chairman of the DESCO Board and joint secretary (development) of Power Division Mofazzel Hossain presided over the meeting.

Among others, directors of the DESCO board, and the company’s managing director and director (engineering) were also present on the occasion.

DESCO was listed in the Dhaka Stock Exchange and Chittagong Stock Exchange in 2006.

BBN/SSR/AD-16Jan12-9:02 am (BST)