SAPL announces 12% cash dividend on its 19th AGM

At the 19th Annual General Meeting (AGM), the Summit Alliance Port Limited (SAPL) (trade code: SAPORTL) has approved a 12% cash dividend for the year ended on 30 June, 2023.

In this financial year, SAPL has focused on improving customization of its off-dock services while responding to clients' demands with Management's innovative solutions. Though the industry has been facing a downward trend beginning with the pandemic, followed by the Russia-Ukraine war and more recently the Palestine-Israel war resulting in a global inflation and recession. Given the negative macro-economical environment, under the able leadership of Muhammmed Aziz Khan and Jowher Rizvi, the Management of SAPL handled it tremendously well and therefore declared a 12% cash dividend to its shareholders.

SAPL is a "AA2" rated Company as per the Credit Rating Agency of Bangladesh (CRAB). Since 2008, SAPL has been consistently offering dividends to its shareholders including the duration of the pandemic.

Presided over by the Muhammed Aziz Khan, Chairman, Summit Group of Companies, the meeting was attended by Jowher Rizvi, Managing Director, SAPL, Yasser Rizvi, Additional Managing Director, Deputy Managing Directors - Nasser Rizvi and Azeeza Aziz Khan ACCA, Directors - Anjuman Aziz Khan, Latif Khan, Ayesha Aziz Khan, Faisal Khan, Syed Fazlul Haque FCA, Abdul-Muyeed Chowdhury and Lutfe M. Ayub. In addition, Independent Directors - Helal Uddin Ahmed,  Anis A Khan, Rear Admiral Riazuddin Ahmed (Retd), Captain Kamrul Islam Mazumder, Director & CEO and Md Abdullah Osman Shajid, Asst General Manager & Company Secretary were also present.