The stock market regulator has decided to file a complaint against Shurwid Industries’ board of directors for declaring a dividend to manipulate the company’s share price.
According to a news statement, regulators made the judgment today at the Bangladesh Securities and Exchange Commission (BSEC) meeting.
On November 3, 2019, the PVC product maker announced a 10% cash dividend for the fiscal year that ended on June 30, 2019.
The corporation, on the other hand, did not pay the dividend to its stockholders.
Source: The Daily Star