The New Nation - Internet Edition

BUSINESS REPORT

Square Pharmaceuticals Ltd, one of the leading pharmaceutical companies of the country has declared cash dividend at the rate of 40 percent and stock dividend (bonus share) at the rate 35 percent to its shareholders for the year ended March 31, 2008.

The dividends were declared at the company's 42nd Annual General Meeting held at Bangladesh-China Friendship Conference Centre, Agargaon, Sher-e-Bangla Nagar in the city on Tuesday.

The AGM was presided over by Chairman of the company Samson H Chowdhury.

Dr. Kazi Harunar Rashid, Director, M Sekander Ali, Independent Director, Samuel S Chowdhury, Director, Anjan Chowdhury, Director, Kazi Iqbal Harun, Director, KM Saiful Islam, Director, Md Kabir Reza, Director (A&F) and Khandaker Habibuzzaman, Company Secretary were present at the meeting.

The gross profit, net profit (before tax) and net profit (after tax) for the year 2007-2008 were Tk 3,401.78 million, Tk 1,868.63 million and Tk 1,381.86 million respectively. Net sales and net profit rise to 10.09 percent and 6.03 percent respectively during the year 2007-08.

During the year under review, the exports amounted to Tk 212.50 million as against 192.95 million, a 10.13% increase.

The company contributed an amount of Tk 1,872.21 million to the national exchequer.

The Board of Directors appreciated the performance of the officers, staff and workers whose untiring efforts helped optimising the profit of the company.

The Directors expressed their gratitude and acknowledged with keen interest the cooperation and unflinching support received from various agencies including Securities and Exchange Commission, Stock Exchanges, National Board of Revenue and other agencies of the public and private sector.

A large number of shareholders attended the AGM and many of them took part in the discussion regarding company's performance and future expansion. At the end, Samson H Chowdhury, Chairman of the company, expressed his deep appreciation to shareholders for their trust and support to the company's performance.