Bangladesh Shipping Corporation (BSC), the state-owned shipping corporation, has finally utilized the entire fund of approximately Tk 314 crore raised through a Repeat Public Offering (RPO) back in 2011. The full expenditure of the RPO fund was completed in October, nearly 14 years after its collection.
During this period, the corporation generated over Tk 234 crore in interest income by keeping the RPO fund deposited in bank accounts. According to BSC officials, this interest income was subsequently used to meet the organization’s ship operating expenses.
Fund Utilization Details
Based on the RPO fund utilization report, as of September of this year, Tk 29.26 crore of BSC’s total RPO fund of Tk 313.70 crore remained unutilized. The corporation successfully completed the full expenditure of the fund in October.
The breakdown of the expenditure is as follows:
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Ship Acquisition Projects (Six Vessels): Tk 236.41 crore
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Building Construction: Tk 59.35 crore
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RPO Expenses: Tk 17.93 crore
BSC’s total interest income generated from depositing the RPO funds in the bank stands at Tk 234.53 crore, with interest rates ranging from 6 to 10 percent.
Use of Interest Income
Company officials stated that while regulations mandate RPO funds be spent on capital expenditure, the policy is silent on the usage of interest income generated from the fund.
“The interest income has been utilized to meet the costs of operating our vessels,” company sources said. “Approval for this usage will be sought from the investors at the upcoming Annual General Meeting (AGM).”
Corporate Updates: Dividend and Financial Performance
BSC’s board of directors has recommended a 25% cash dividend for its investors for the latest concluded fiscal year 2024-25.
Key financial highlights for the period:
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Earnings Per Share (EPS): Tk 20.10, an improvement from Tk 16.37 in the previous fiscal year.
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Net Asset Value Per Share (NAVPS): Tk 104.84 as of June 30, 2025.
BSC has called for its AGM on December 22 to seek investor approval on the proposed dividend and other agendas. The record date for the dividend entitlement was December 7.
On the Dhaka Stock Exchange (DSE), BSC shares last traded at Tk 107 on Thursday. Over the past year, the share price has fluctuated between a low of Tk 82.60 and a high of Tk 127.
Other Market News
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BSEC Disagrees with Himadri’s Proposal to Double Paid-Up Capital.
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Tk 4.5 Crore Fine Imposed on Two Individuals and One Entity.
