Idcol pays govt Tk 70cr dividend

The Infrastructure Development Company Ltd (Idcol) has paid a dividend of Tk 70 crore to the government exchequer from its net profit of the last financial year of 2022.

Sharifa Khan, secretary to the Economic Relations Division and chairman of Idcol, handed over the dividend cheque to Finance Minister AHM Mustafa Kamal at the finance ministry in Dhaka yesterday, said a press release.

After receiving the cheque, the finance minister said, "Idcol has set an example in financing infrastructure development, and energy and renewable energy sectors of Bangladesh."

In the previous financial year, the state-owned institution had paid a dividend of Tk 50 crore to the government. Idcol's profit before tax and provision was Tk 698.79 crore in 2022.

A total amount of Tk 120 crore from the profit made by Idcol during 2022 was declared as dividend at its 26th annual general meeting.

Among others, Abdul Haque, director of Idcol and managing director, Alamgir Morshed, executive director and CEO, SM Monirul Islam, deputy CEO and chief financial officer, and Md Enamul Karim Pavel, head of renewable energy, were present.