The Board of Directors of Quasem Drycells Limited has decided to change the company name from Quasem Drycells Limited to Quasem Industries Limited.
The decision came at its 36th annual general meeting (AGM) at Mohakhali area of Dhaka on Thursday.
The AGM decided to change the name as the company has been expanding its operation in various other product and service sectors, said a press release on Sunday.
The meeting also approved 18.0 per cent stock dividend, considering net profit before tax at Tk 127.56 million, EPS at Tk 2.15 for the financial year 2016-17.
Anwarul Islam, Chairman of the Board of Directors of the company, presided over the meeting.
Quasem Drycells Managing Director & CEO Tasvir Ul Islam, Directors Dr Reyan Anis Islam, Nafisa Quasem, Sammed Quasem, Tariq Abul Ala, and a large number of shareholders and other officials were present at the meeting.