Square Textiles PLC, a listed company in the textile sector of the capital market, has decided to expand and modernize its factory under a BMRE (Balancing, Modernization, Rehabilitation, and Expansion) initiative.

The decision was made at a board of directors meeting held on Tuesday (October 21), according to company sources.

The same meeting also approved a decision to acquire a company named Square Texcom Limited.

The total expenditure for the factory’s BMRE and the acquisition of Square Texcom is estimated at 400 million BDT (40 crore taka).

Additionally, the board approved a 32% cash dividend for the financial year ending June 30, 2025.

During the discussed fiscal year, the company reported consolidated earnings per share (EPS) of BDT 7.24, compared to BDT 5.89 per share in the previous year.