Sk Trims completes paying all due dividends

Sk Trims and Industries Ltd has completed paying all due dividends couple of days ago and has submitted the related payment documents to Bangladesh Securities and Exchange Commission (BSEC), said MA Kayum Howlader, managing director of the garment accessories manufacturer.

He shared the information today while exchanging views with several journalists in a meeting at Fars Hotel in the capital.

Sk Trims has recently been downgraded to Z category by the stock exchanges when the company failed to pay announced dividends within the stipulated time.

The company explained the reasons of the delay and showed the necessary documents of the dividend payments in a hearing arranged by the BSEC recently.

Howlader said former NBR commissioner Motiur Rahman, who came to light after corruption charges were raised against him, and his family members do not hold any share of Sk Trims.

Rahman's owing companies hold around 14 percent of Sk Trims and Rahman or his family members are not included in the company's board, Howlader said.

The rest of the shares are held by general and other investors, he said.

But the banking regulator froze the bank accounts of Sk Trims in late June this year as part of freezing the accounts of Rahman and his related firms, he said.

Because of the account freeze, the export-orientated company lost its work order as it could not to open letters of credit, he said.

The company's bank accounts have recently been opened for a month, but foreign buyers are now reluctant to place work orders due to its poor image and association with Motiur Rahman.

At today's event, Howlader sought the government's help for the recovery of his company.