Shipping Corporation to provide 20% cash dividend

Bangladesh Shipping Corporation (BSC) has decided to provide a 20% cash dividend to its shareholders for the 2021-22 fiscal.

BSC Board of Directors announced the dividend rate at a meeting held Tuesday (1 November), said a press release from the Shipping Ministry. 

The meeting reviewed the financial report for the fiscal period ending 30 June. 

Last year the company paid 12% dividend to shareholders.

BSC made a net profit of Tk 225.81 crore in the financial year 2021-22 and Tk72.03 crore in the financial year 2020-21.

The corporation made a net profit of Tk60.69 crore in the first three months of the financial year 2022-23.

It was informed in the meeting that BSC will procure four new ships from China with the help of Chinese government. Among them are two crude well tankers; each of which has a capacity of one lakh dead weight tons and two bulk carriers of 80,000 thousand tonnes capacity each. 

The expenditure for this will be $241.92 million. The cost of the two crude well mother tankers is estimated at $151.96 million and the procurement of two mother bulk carriers will cost $89.96 million.

State Minister for Shipping and BSC Board of Directors Chairman Khalid Mahmud Chowdhury MP presided over the meeting.