Idcol pays govt Tk 50cr dividend

The Infrastructure Development Company (Idcol), a state-owned financial institution in Bangladesh, paid a cash dividend of Tk 50 crore to the government for the financial year of 2023.

Md Shahriar Kader Siddiky, secretary to the Economic Relations Division and chairman of Idcol, handed over the cheque to Finance Adviser Salehuddin Ahmed at his office in the capital, said a press release.

After receiving the cheque, the finance adviser 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."

A total amount of Tk 100 crore from the profit made by Idcol during FY 2023 was declared as dividends in the 27th annual general meeting of the company.

The other half of the amount of Tk 50 crore can be used for increasing the company's paid-up capital to Tk 888 crore by issuing bonus shares.

Farid Aziz, director of Idcol and additional secretary, economic relations division, Alamgir Morshed, executive director and CEO, SM Monirul Islam, deputy chief executive officer and chief financial officer, Nazmul Haque, Md Enamul Karim, chief investment officer, Md Enamul Karim Pavel, chief investment officer, and M Maftun Ahmed, company secretary of Idcol, among others, were also present.