Based on the higher profits, the board of directors declared a 30 percent cash dividend for shareholders

Envoy Textiles Limited posted a 433 per cent year-on-year increase in profit to Tk 50.15 crore in the financial year of 2021-22.

The Asian Development Bank (ADB) has entered into a €10.8 million ($11.2 million) loan agreement with Envoy Textiles to fund a second yarn spinning unit at Envoy’s manufacturing plant in Mymensingh’s Bhaluka.

The board of directors of export-oriented Envoy Textiles has been temporarily reconstituted until the disposal of a case filed by Abdus Salam Murshedy, former managing director and one of the founders of the company, along with some other directors, as per a High Court order issued last month.