Staff Reporter :
Dhaka Stock Exchange (DSE) has upgraded Confidence Cement from ‘Z’ to ‘A’ category for distributing 10 per cent cash dividend to investors for the year ended and submitting a compliance report.
This information was informed in a circular signed by BSEC Executive Director and Spokesperson Mohammad Rezaul Karim yesterday.
Bangladesh Securities and Exchange Commission (BSEC) has summoned senior officials of the company for downgrading Confidence Cement to ‘Z’ category due to non-compliance regarding dividend distribution.
The company appeared before the BSEC on December 8 and submitted the dividend distribution information and non-compliance report. DSE then upgraded the company from ‘Z’ to ‘A’ category.
In the meeting, BSEC said that in the interest of the country’s stock market and investors, BSEC has taken the initiative to discuss and coordinate with the companies listed in the stock market regarding the downgrading to ‘Z’ category due to various reasons including non-compliance related to dividend distribution.
BSEC warns the listed companies to declare the dividend within the stipulated time and distribute the said dividend in accordance with the rules. Such activities and initiatives of BSEC will continue in the interests of the country’s stock market and investors.
Bangladesh Securities and Exchange Commission (BSEC) will take strict action against those companies and their directors who do not declare the dividend and distribute the dividend within the prescribed time.
