Pacific Denims, RD Food’s stock dividend proposals okayed

The Bangladesh Securities and Exchange Commission (BSEC) has approved stock dividend proposals of Pacific Denims Limited and Rangpur Dairy & Food Products Ltd.

For FY21, the Pacific Denims board recommended 1 per cent cash and 1 per cent stock dividend while

Rangpur Dairy & Food Products (RD Food) recommended also 3 per cent cash and 3 per cent stock, said the companies in their filings with the Dhaka Stock Exchange on Monday.

The securities regulator approved the stock dividend proposals of the companies, according to the regulatory filings.

It is mandatory for the companies which are non-performing and have no good dividend payout

history to take the regulator’s consent for issuing stock dividends as per the securities rules framed on September 5, 2021.

In line with the securities rules, Pacific Denims and Rangpur Dairy earlier submitted applications seeking the regulator’s approval for the stock dividends they recommended.

Both the companies set March 14, 2021, as the record date for the dividend entitlement.

In the day, Pacific Denims share fell 4.80 per cent and Rangpur Dairy was down 6.71per cent on the DSE.