Lovello fails to pay announced dividends

Taufika Foods and Lovello Ice-cream PLC of the food sector failed to pay dividends which they announced in 31 December,2022. In the same period they posted a profit of 12 per cent cash.

The permier bourse Dhaka Stock Exchange has sent out a letter to the company inquiring about the situation.

According to the regulations set by Bangladesh Securities and Exchange Commission, a listed company has to provide the announced dividends to their shareholders and investors within 30 working days after the authorisation.

A source of the company has told The Business Post that Taufika Foods and Lovello Ice-cream PLC has started distributing the dividends but it is still in progress. After asking about the delay the source said to talk with their secretary. But the secretary was found unreachable.

Taufika Foods and Lovello Ice-cream was listed in 2021 and the share price was 37.90tk in the last trading session.