The Bangladesh Securities and Exchange Commission (BSEC) has announced a stringent crackdown on listed companies that declared dividends but failed to disburse them to shareholders.
In a Wednesday directive signed by BSEC Director Md Abul Kalam, the commission revealed it has summoned top executives of 22 such delinquent firms for immediate explanations, reports UNB.
The regulatory body warned of punitive actions under securities laws for non-compliance, though specific penalties remain undisclosed.
The move comes amid mounting investors’ fury, with protesters staging human chains and symbolic coffin processions outside Motijheel brokerage houses this week. Margin loan investors appear hardest hit as the market extends its five-day losing streak, compounding financial distress.
The BSEC statement emphasised the fact that these delinquent companies must resolve dividend distribution obstacles without further delay.
Acknowledging the erosion of investor confidence, the commission has scheduled crisis talks with investor associations on Thursday to address broader market concerns.