40 firms deposited Tk 2.10 billion to the Capital Market Stabilization Fund (CMSF) on August 30. BSEC officials said the companies transferred the principal amount of the unclaimed cash dividends.
Prior on June 27, the BSEC issued the rules on formation of the CMSF worth Tk 210 billion. The listed companies were asked to transfer their unclaimed or undistributed or unsettled dividends in cash or non-refunded IPO subscription money and others, including accrued interest, to the CMSF within that date (30 August).
As per information of the securities regulator, 335 listed companies have unclaimed cash dividends worth Tk 9.56 billion, and unclaimed or unsettled stock dividends worth Tk 199.86 billion.
On the other hand, The Bangladesh Association of Publicly Listed Companies (BAPLC) recently urged the BSEC to extend the tenure of transferring funds. The securities regulator has rejected the appeal and asked the listed companies to transfer such funds along with accumulated interest within the given timeframe.
Source: The Financial Express