The state-owned financial institution Infrastructure Development Company Ltd (IDCOL) paid the government a dividend of Tk50 crore based on its net profit for the last financial year, 2023.
Md Shahriar Kader Siddiky, secretary, Economic Relations Department (ERD) and chairman, IDCOL, formally handed over the dividend check to Finance Advisor Dr Salehuddin Ahmed, at the Ministry of Finance.
After receiving the cheque, the finance advisor said: "As a government owned financial institution, IDCOL has set an example in financing the infrastructure development, energy efficiency and renewable energy sectors of Bangladesh."
In IDCOL’s 27th AGM, a total amount of Tk100 crore from the profit made by IDCOL during FY 2023 was declared as dividends.
The dividends are as follows:
- Tk50 crore to be paid to the government as cash dividend
- Tk50 crore will be used to increase the company’s paid-up capital to Tk888 crore by issuing bonus shares.
Also present on the occasion was Farid Aziz, director, IDCOL and Additional Secretary, Economic Relations Division (ERD), Alamgir Morshed, executive director and CEO, IDCOL, SM Monirul Islam, deputy CEO and CFO, IDCOL, Nazmul Haque, chief investment officer, IDCOL, Md Enamul Karim Pavel, head of Renewable Energy, IDCOL, and M Maftun Ahmed, company secretary, IDCOL.
