Singer approves 30pc stock dividend

Business Desk

24 April, 2019 12:00 AM printer

Singer approves 30pc stock dividend

Singer Bangladesh Chairman Dr Fatih Kemal Ebiçlioglu presides over the 39th annual general meeting of the company on its factory premises in Savar on Tuesday.

Singer Bangladesh Limited approved 30 percent stock dividend for its shareholders for the year 2018.

The approval came at the 39th annual general meeting of Singer Bangladesh held at the Singer Factory in Savar on Tuesday.

Dr. Fatih Kemal Ebiçlioglu, Chairman Singer Bangladesh Limited, presided over the meeting.

Singer Bangladesh Limited Chairman Fatih Kemal Ebiçlioglu informed the meeting that Ardutch B.V., a subsidiary of Arçelik (a member of Koç Holdings, Turkey) acquired Retail Holdings Bhold B.V. on April 3, 2019.  After the acquisition, Arçelik has become the ultimate beneficial owner of the company. 

Chairman Fatih Kemal Ebiçlioglu in his address mentioned that “Bangladesh is one of the fastest-growing economies in the world and it will further accelerate in the medium to long term.”

He also added that “2018 was a successful year for the company with record sales in all key product categories. Company’s turnover of 2018 has increased by 24 percent to Tk 13.7 billion. Profit after tax increased by 23 percent to Tk 920 million, with earnings per share increasing at the same rate to Tk 12.0 per share.”