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BSEC Issues Stern Directives on ‘Z’ Category Reclassification

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In a bid to enhance cleanliness in the stock market, regulatory body Bangladesh Securities and Exchange Commission (BSEC) has issued stringent directives to companies, urging them to shift or reclassify into the ‘Z’ category if they fail to declare dividends for consecutive two years. The new guidelines, signed by BSEC Chairman Prof. Shibli Rubayat-Ul-Islam on Thursday, February 15, extend the criteria for reclassification to companies unable to hold annual general meetings or pay annual fees for two consecutive years. The move also covers companies inactive for six months or those keeping their operations suspended.

Furthermore, the BSEC has extended its directives to non-listed companies, stating that any entity remaining inactive in its operations for six months or ceasing production will also be reclassified into the ‘Z’ category. The new regulations also apply to companies with a negative cash flow for two consecutive years or having higher debt than paid-up capital.

According to the issued statement, if any company fails to comply with security laws, regulations, notices, orders, or directives, it may be reclassified into the ‘Z’ category after approval from the commission.

According to regulations, companies listed on the stock exchange, excluding banks, insurance, and non-banking financial institutions, can now provide investors with interim dividends (other than stock/bonus shares). Under the new rules, the categorization of companies will be determined by considering the interim dividends.

Additionally, if any company, apart from banks, insurance, and non-banking financial institutions, has already been reclassified into the ‘Z’ category, it will not be able to engage in share transactions or undergo reclassification without prior approval from the commission.

This latest directive will render ineffective the provisions of the Dhaka Stock Exchange (Listing Regulations) 2013 and Chittagong Stock Exchange (Listing Regulations) 2013, Article 5(2). The new guidelines will take effect today, superseding the aforementioned regulations.

 

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DSEX Fell 178 points in 4 Working Days amidst Shallow Turnover

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Dhaka Stock Exchange DSE, Bourse on the last working day of the week, April 18th, ended with a drop in Indices and hike in Turnover from the previous working session. This information is known from DSE sources.

522 crore 51 lakh taka shares were traded on this day. 39 crore 97 lakh more tradings were done in DSE today compared to the previous workday, 17th April , Shares worth Tk 482 crores 53 lakh shares were traded last time, Wednesday.

The benchmark DSEX lost 77.08 points or 5,686 The Shariah-based index DSES dropped 15.85 points or 1,246, and the blue-chip index DS30 decreased by 22.77 points or 1,984.

Of the issues traded, 29 advanced, 342 declined and 24 remained unchanged.

Asiatic laboratories Limited ranked top gainer on DSE, the share price increased by Tk 4.60 paisa or 9.96 percent. On this day, the share was last traded at Tk 50.80 paisa.

Far East Finance & Investment Limited ranked top loser on the DSE, the share price dropped by Tk 0.30 paisa or 6.97 percent. On this day, the share was last traded at Tk 4.00 paisa.

DSE topped on trade is Asiatic Laboratories Limited 39 crore 22 lakh takas of company shares have been traded.

A total of 40 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 47 lakh 25 thousand 651 shares of the companies were traded. The financial value of which is 17 crore 46 lakh taka

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Agni Systems releases Q3 Financials

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One of the listed companies, Agni Systems limited discloses its financial reports for the third quarter, (January – March 24).

The company’s earnings per share (EPS) was Tk 0.32 paisa in Q3 of the current financial year (January – March 24). EPS was Tk 0.27 paisa during the same period last year. NAV per share was Tk. 16.37 as of March 31, 2024.

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Dutch Bangla Bank Declares 35% Dividends

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One of the Listed companies, Dutch Bangla Bank PLC has recommended 17.5% Cash Dividends & 17.5% Stock Dividends for the year ended December 31, 2023.

In terms of financial performance, The Company has further informed Consolidated EPS of Tk. 10.72 for the year ended December 31, 2023. The Company has also reported Consolidated NAV per share of Tk. 64.41 for the year ended December 31, 2023.

The Annual General Meeting (AGM) of the company will be taking place on June 09, through the digital platform. The record date for this has been fixed at May 9.

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