Oil & Energy

IDCOL pays dividends of Tk 70 crore

Published : 11 May 2019 05:52 PM | Updated : 07 Sep 2020 07:06 PM

State-owned Infrastructure Development Company Limited (IDCOL), a non-bank financial institution owned by the government, has declared dividends of Tk 70 Crore from the profit made in FY 2018. 

Out of the amount, Tk 20 crore has been paid to the Government as cash dividend while Tk 50 crore would be used for increasing the company’s paid up capital to Tk 650 crore by issuance of bonus shares, IDCOL official said. 

Monowar Ahmed, Secretary, ERD and Chairman, IDCOL handed over the cash dividend cheque to Finance Minister AHM Mustafa Kamal in the capital recently. 

Among others, IDCL CEO Mahmood Malik, deputy CEO SM Monirul Islam, company secretary Maftun Ahmed, Vice President (Corporate Affairs) Nazmul Haque Faisal were present in the event.

IDCOL is one of the few Government owned entities that operate independently and pays dividends to the Government on a regular basis. 

IDCOL paid Tk. 20 crore to the Government as cash dividend in the last year as well.  IDCOL finances large and medium infrastructure projects as well as renewable energy and energy efficiency projects in the country. 

Solar Home Systems, Solar Irrigation pump, Solar Mini- Grid, Solar rooftop Biogas Plants and Improved Cook Stoves Programs are some its successful interventions in the renewable energy sector.