BSC no longer loss-making entity, says minister
BSC declares 20pc dividend for shareholders
NAZIMUDDIN SHYAMOL | Monday, 12 December 2022
CHATTOGRAM: Once a losing concern, the Bangladesh Shipping Corporation had earned much more than spent in the last three consecutive financial years while its net profits also significantly rose in the 36-month period.
Due to its overall better economic performance, the state-owned shipping entity declared 20 per cent dividends for its shareholders in the 2021-22 fiscal year.
The disclorure came at BSC's 45th Annual General Meeting (AGM) held at the Boat Club in the port city on Sunday morning with Shipping Minister Khalid Mahmud Chowdhury present as the chief guest.
Addressig the event today, Khalid Mahmud Chowdhury said that the BSC earned more than Tk 2.25 billion (Tk 225.81 crore) in the last financial year. Mr Chowdhury, who is also member of the BSC's board, declared 20 per cent dividend for the shareholders of the compampy for the FY '22.
The meeting was told that the BSC earned Tk 322.97 crore in financial year 2020-21 and the net profit was Tk 72.02 crore in that fiscal year while the company's earning was Tk 322.84 crore in 2019-20 fiscal year and expenditure was Tk 245.36 crore, so the net profit stood at Tk 41.47 crore in that year.
BSC Managing Director Commodore SM Moniru-zzaman chaired the meeting.
"BSC will procure a total of 21 ships. Of these, 6 ships have already been procured while the process of procuring the remaining vessels is under way. BSC is playing an important role in national shipping sector as well as in international arena due to the proper steps taken by the government," he added.