The Bangladesh Securities and Exchange Commission (BSEC) has instructed 14 publicly listed companies to promptly submit their dividend disbursement reports following a meeting on Sunday. The companies, including Lub-rref Bangladesh, SK Trims & Industries, and Fortune Shoes, were questioned about their delays in dividend disbursement and asked to present their plans for compliance. While some companies reported disbursing around 80% of dividends, they have not submitted reports, waiting to complete 100% disbursement, despite being allowed to report at 80%. Other companies cited economic challenges affecting their disbursement capabilities. Non-compliance has resulted in daily fines of Tk 5,000 for companies that fail to disburse dividends within 30 days post-approval at annual general meetings. Companies were recently categorized as “Z” for underperformance due to delayed payments. Investors have expressed concerns about these delays, which impact stock market performance. The BSEC’s new leadership emphasizes investor protection and accountability, with the goal of ensuring timely dividend payments to shareholders.
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