Quasem Industries PLC has received a qualified audit opinion over failures to comply with workers’ profit-sharing and dividend payment requirements, even as the company reported higher earnings and proposed fresh dividends for the financial year ended 30 June 2026.
The company disclosed the findings on Sunday after its board approved the audited financial statements and recommended a 2 per cent cash dividend and an 8 per cent stock dividend.
Earnings per share rose 2.88 per cent to Tk1.07 from Tk1.04 a year earlier, while net operating cash flow per share increased 37.5 per cent to Tk1.21 from Tk0.88.
Net asset value per share surged 97.11 per cent to Tk57.28 from Tk29.06, with the company attributing the increase to the revaluation of its land and land development assets rather than operating earnings.
The auditor identified two compliance failures.
First, Quasem Industries failed to comply with the Bangladesh Labour Act 2006, which requires companies to contribute 5 per cent of the previous year’s net profit to designated workers’ funds within nine months of the financial year-end.
The money must be distributed among the Participatory Fund, Welfare Fund and Workers Welfare Foundation Fund in an 80:10:10 ratio.
Second, the auditor found that the company had failed to comply with a Bangladesh Securities and Exchange Commission directive requiring dividend payments within 30 days.
Its 45th annual general meeting will be held on 15 December at 11am through a hybrid arrangement at Palm View, Army Golf Club, Kurmitola, Dhaka.
The record date is 15 November for meeting participation and cash dividend entitlement, but not for the proposed bonus shares.
