Singer AGM approves 90pc cash dividend

Shareholders of Singer Bangladesh Ltd approved 30 per cent final dividend in addition to payment of 60 per cent interim dividend, making a total of 90 per cent for the year 2009 which is 200 per cent higher than last year.

The approval came at the 30th annual general meeting (AGM) of the company held at the Trust Milonayaton in the city Wednesday.

Singer Bangladesh Chairman Mahbub Jamil presided over the meeting, said a press release.

The chairman in his address mentioned that in spite of the worldwide economic meltdown, Singer had been able to maintain its profitability. During the year under review, the company opened nine Singer Plus retail shops in different parts of the country and two new service centres in Jessore and Sylhet.

During the year 2009, the company contributed Tk 1,098 million to the national exchequer in the form of corporate tax, customs duty and VAT, he added.

The meeting was attended by a large number of shareholders. They highly appreciated the performance of the company and congratulated the management. They also put their valuable suggestions towards the improvement of the company.