GPH Ispat declares 10pc dividend

Published : 29 Dec 2023 09:10 PM

The 17th Annual General Meeting (AGM) of GPH Ispat Limited was held on Thursday afternoon through digital platform. Chairman of the company Mohammad Alamgir Kabir presided over the meeting. 

It was attended by Group Chairman and Managing Director Mohammad Jahangir Alam, Additional Managing Director Mohammad Almas Shimul, Directors- Md. Ashrafuzzaman, Md. Abdul Ahad, Md. Azizul Haque, Independent Directors Shafiul Alam Khan Chowdhury and Mukhtar Ahmed, Executive Director (F&BD ) Kamrul Islam FCA conducted the session and replied to the questions of shareholders. 

Chief Financial Officer Abu Bakar Siddique FCMA, Group Chief Financial Officer H.M Ashrafuzzaman FCA, acting company secretary Md Mosharraf Hossain, senior officials of the company and a large number of shareholders participated in the meeting.

The meeting approved the financial report of GPH Ispat Ltd. for the year ended on 30th June 2023, the related audit report and the report of the board of directors were unanimously accepted and approved. 

The meeting approved a total dividend of 10% including 5% cash (exclusive to general shareholders, excluding sponsors and directors) and 5% stock dividend declared for the shareholders for the financial year 2022-23.

 GPH Ispat Chairman Mohammad Alamgir Kabir said that GPH Ispat Limited has tackled the sector's challenges with resilience and foresight. Our excellence is marked by manufacturing breakthrough products GPH QUANTUM B600C-R and GPH QUANTUM B600D-R utilizing state-of-the-art Quantum Electric Arc Furnace technology which is earthquake resistant, 30% cost effective, reducing labor and transportation costs. 

Group Chairman and Managing Director Mohammad Jahangir Alam said We have tried our best despite the tough crisis due to covid 19, war in Ukraine, trade embargo etc. and so far we have been working with great success.