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May 9, 2019
IDCOL Pays Dividends of Tk 70 Crore in FY 2018
Infrastructure Development Company Limited (IDCOL), a Non-bank Financial Institution owned by the Government of Bangladesh, has declared dividends of Tk 70 Crore from the profit made in FY 2018. Out of that Tk 20 crore has been paid to the Government as cash dividend while Tk 50 crore would be used for increasing the companys paid up capital to Tk 650 crore by issuance of bonus shares. Mr. Monowar Ahmed, Secretary, ERD and Chairman, IDCOL handed over the cash dividend cheque to Honble Finance Minister Mr. A H M Mustafa Kamal, FCA, MP. Among others, Mr. Mahmood Malik, Executive Director and CEO, IDCOL, Mr. S.M. Monirul Islam, Deputy CEO of IDCOL, Mr. Maftun Ahmed, Company Secretary, IDCOL, Mr. Nazmul Haque Faisal, Vice President Corporate Affairs, IDCOL 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.