14 companies asked to explain failure to pay dividends

The Bangladesh Securities and Exchange Commission (BSEC) has asked the high officials of 14 listed companies to come to its office with related documents to explain why they have declared but failed to pay dividends last year.

For the non-compliance, these companies were sent to the Z category last week, which has agitated the investors of these companies.

The companies are Lub-rref (Bangladesh), Fortune Shoes, Beach Hatchery, Pacific Denims, SK Trims and Industries, Associated Oxygen, Advent Pharma, Union Insurance, Shepherd Industries, Desh Garments, Khulna Power, VFS Thread, Indo-Bangla Pharmaceuticals, and Libra Infusions.

In separate letters to the companies, the regulator ordered chairman, managing director, chief financial officer and company secretary level officials of these companies to be present at its office tomorrow.

They are asked to bring all relevant documents of financials and dividend payments.

The officials will be asked in the meeting about the reasons of their failure to pay dividends.