Regulator rejects Bay Leasing’s 5% dividend plan

The Bangladesh Securities and Exchange Commission (BSEC) has rejected Bay Leasing & Investment Limited's plan to award a 5 per cent stock dividend for the year 2021.

In a filing on the Dhaka Stock Exchange today, the non-bank financial institution said the decision regarding raising the paid-up capital through the issuance of the stock dividend has not been approved by the BSEC.

In September, Bay Leasing announced the dividend for 2021.

It came although the company suffered losses in the financial year. The NBFI reported losses per share of Tk 0.99 for 2021 against earnings per share of Tk 1.14 the previous year.