Cement companies announce dividends in Bangladesh

Two companies, out of seven listed cement companies in the Dhaka Stock Exchange (DSE) of Bangladesh, have announced cash dividends, subject to approval in the scheduled annual general meeting of each companies later this year.

According to DSE, the Board of Directors of Confidence Cement Ltd, have recommended a 15 per cent cash and 15 per cent stock dividend for the year ended on 30 June 2019. The AGM is expected to be held on 22 December 2019. Confidence Cement has also informed that bonus shares have been recommended in view of utilising its retained amount as capital to continue investment to Confidence Cement Dhaka Ltd an associate of the company. Bonus shares are declared out of accumulated profit.

Confidence Cement has further informed that the Board of Directors has decided to sell some of the company's land at Mouza: Danga, Upazila: Polash, Narsingdi, Dhaka, in favour of Confidence Cement Dhaka Ltd, an associate of the company in consideration of the selling value of BDT98m (US$1.15m).

Confidence Cement, the flagship company of Confidence Group of companies is one of the largest producers of cement in the country. It has a production capacity of 7.5Mta.