Stocks
Over 12 yrs, No Dividends Paid by Zafrullah’s Tulip Diary
Dhaka Stock Exchange, Over the Counter (OTC), Tulip Diary & Food Products Limited has been cheating the investors for over 12 years.
The company has registered its name on DSE 30 years ago. But from the past 12 years, the company is not paying any dividends to its shareholders. Gonoshasthaya Nagar Hospital Trustee Dr. Zafrullah Chowdhury’s company is Tulip Diary. The given address of the company are the same as the Tulip Diary, this information is affirmed from their related sources.
The employee of the Gonoshasthaya Nagar Hospital told that for long time Dr. Zafrullah’s Tulip Diary office was here. Recently the office of the company has been shifted to the address of Gonoshasthayanagar Hospital in Savar. Sandhya Roy is the current chairman of the company.
Regarding this issue, Sandhya Roy told Orthosongbad, the office is located in Savar. But the firm is closed from the last 12 years, as Orthosongbad asks before closing the firm, were they declare any dividends, she replied that ‘maybe before it declares slight diivdends and I am not so sure’. Regarding another question, Roy said Tulip Diary will leave DSE future soon, and give back the invest to the investors.
An anonymous person from Tulip Diary said that the previous board of directors had looted the company. The company is trying to stand back around after the chairman and other posts were reshuffled. arriving at the office of Tulip Dairy, it was seen that the company’s activities are going on. But the company’s production has been stopped – claimed by the employee.
From another question, if Dr. Zafrullah still the owner of Tulip Diary, another anonymous employee replied, he is not in direct ownership of the company, since Tulip Dairy is a subsidiary of Gonoshasthayanagar Hospital, he is indirectly in ownership.
It is known from 1990 Tulip Diary was registered on DSE and the company share price was last traded 28 taka. And when the last time they declared dividends, there is no trace of it on the DSE website. Even the chairman of the company does not know about it.
According to DSE sources, the paid-up capital of Tulip Dairy and Foods Products Limited is Tk 2 crore 39 lakh. The total number of shares of the company is 2 lakh 39 thousand. About half of these are ordinary investors.
In 2018, it earned Tk 3.82 paisa. This was known from DSE Website. The company earned over 9 lakh taka that year. However, Tulip Dairy and Foods Products has not paid any dividends to the investors. Apart from the 2018 data, there is no data on the company’s earnings on DSE.
In 1990, no data has been found that it has paid dividends to investors since its listing on DSE. While common investors have 49.17pc shares in the company. The remaining 50.83pc shares are held by the founders and directors of Tulip Dairy and Foods Products. Ordinary investors, who own about half of the company’s shares, have been deprived for ages. Tulip Dairy, which has deprived investors for a long time, is now looking to exit the DSE.
Major General Mohammad Quamruzzaman (retd) has stepped down from his role as an independent director of the board of the Dhaka Stock Exchange, citing personal reasons.
He also served as a member of the DSE’s Nomination and Remuneration Committee (NRC).
Quamruzzaman was appointed to the DSE board on 1 September 2024, following the fall of the Awami League-led government. After serving for nearly one year and nine months, he submitted his resignation on Saturday (24 May).
Speaking to Quamruzzaman confirmed his resignation, saying, “Yes, I have resigned as an independent director for personal reasons.”
Md Shafiqur Rahman, Deputy General Manager of Public Relations and Publications at the DSE, said Quamruzzaman submitted a resignation letter mentioning personal reasons behind his decision.
“The DSE board will now take a decision regarding the resignation,” Shafiqur Rahman said.
He also indicated that Quamruzzaman may be planning to join another company, which could have influenced his decision to resign.
Earlier, another independent director of the DSE board, Shahnaz Sultana, also resigned from her position. She was likewise a member of the NRC.
According to the DSE annual report, Shahnaz Sultana is the CEO and Chief Consultant of FINS Alliance Risk Advisory and Consultancy and has served as the Founder and Chairperson of the WE Global Women Foundation since 2020.
The Bangladesh Securities and Exchange Commission (BSEC) has today approved appointment of Ms. Nuzhat Anwar as the new Managing Director of Dhaka Stock Exchange PLC. (DSE).
Ms. Nuzhat Anwar brings over two decades of experience in financial markets, banking, and development finance. Prior to her appointment, she worked at the International Finance Corporation (IFC), the private sector arm of the World Bank Group, where she held multiple senior leadership roles across Africa and South Asia. Her positions included Resident Representative for Liberia and Sierra Leone, Senior Country Officer for Bangladesh covering Bangladesh, Bhutan, and Nepal, and acting Cluster Manager during the COVID-19 pandemic and the subsequent transition period.
Ms. Anwar also served as an IFC Country Officer in Botswana and Namibia, where she played a key role in establishing IFC’s presence in Gaborone and advancing a sustainable investment program, including IFC’s first investment in Botswana. She offers deep expertise in capital management, treasury and liquidity, transaction services, portfolio optimization, and market advocacy. Earlier in her career, she spent 16 years with Citibank Bangladesh and Standard Chartered Bank Bangladesh in various senior management roles.
Ms. Anwar holds a Master’s degree in Commerce (Finance) from the University of Dhaka.
On her appointment as the Managing Director of DSE, the Chairman of the Board of DSE Mr. Mominul Islam said, “We are pleased to receive the approval of BSEC for appointment of Ms. Anwar as the new Managing Director. Over the last one year the NRC and Board of have worked hard to recruit a competent leader as the MD of DSE. We are confident that Ms. Anwar, with her excellent leadership trait, vast experience in the financial sector in home and abroad and deep passion for transformation in the Capital Market of the Country, is the right candidate to lead DSE in the days ahead. Now, we will complete the internal processes to onboard Ms. Anwar at soonest.”
Dhaka Stock Market DSE, Bourse on the second working day of the week, 30th September, ended with a negative performance in Indices and a hike in Turnover from the previous working session. This information is known from DSE sources.
503 crore 90 lakh taka shares were traded on this day. 22 crore 58 lakh more tradings were done in DSE today compared to the previous workday, 29th September, Shares worth Tk 481 crores 31 lakh shares were traded last time, Sunday.
The benchmark DSEX lost 33.61 points or 5,624 The Shariah-based index DSES dropped 7.36 point or 1,263 and the blue-chip index DS30 decreased by 9.57 points or 2,053.
Of the issues traded, 72 advanced, 299 declined and 25 remained unchanged.
Shahjibazar Power Company Limited ranked top gainer on DSE, the share price increased by Tk 4.00 paisa or 9.76 percent. On this day, the share was last traded at Tk 45.00 paisa.
Dhaka Electric Supply Company Limited ranked top loser on the DSE, the share price dropped by Tk 1.80 paisa or 7.56 percent. On this day, the share was last traded at Tk 22.00 paisa.
DSE topped on trade is Pragati Life Insurance Limited 25 crore 35 lakh takas of company shares have been traded.
A total of 27 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 1 crore 50 lakh 42 thousand 956 shares of the companies were traded. The financial value of which is 65 crore 60 lakh taka
