DSE downgrades six firms to ‘B’ category

The Dhaka Stock Exchange (DSE) has shifted six companies from ‘A’ to ‘B’ category after they failed to disburse required 10 per cent dividend to their shareholders.

The companies are AFC Agro, Daffodil Computer, Indo-Bangla Pharmaceuticals, Shepherd Industries, Simtex Industries and SK Trims and Industries. The shift will come into effect on December 26.

According to the BSEC rules, if an ‘A’ category company announces less than 10 per cent dividend (cash and stock) for a financial year, its category will change. All the six companies have announced less than 10 per cent dividend for the financial year 2020-21.

AFC Agro provided 0.5 per cent cash dividend (other than Sponsors and Directors) for the year ending on June 30 while Daffodil Computer, Indo-Bangla Pharmaceuticals, Shepherd Industries, Simtex Industries and SK Trims and Industries disbursed respectively 6 per cent, 7 per cent, 5 per cent, and 5 per cent dividends for the year.