Orion Infusion will now give 20% cash dividend
Orion Infusion has decided to give 20 per cent cash dividend to its investors for 2021-22.
However, the company's initial plan was to declare 10 per cent stock and 10 per cent cash dividends for its shareholders.
But the pharma company had to retract its plan as the stock market regulator asked it to give the whole amount as cash dividend for the betterment of the investors.
Last month, the board of directors of Orion Infusion recommended 10 per cent stock and 10 per cent cash dividends based on the company's performances in 2021-22.
But Bangladesh Securities and Exchange Commission rejected the stock dividend announcement today and advised the company to go for 20 per cent cash dividend.
So, to abide by the recommendation, Orion's board decided to convert and give the whole amount as cash dividend today, the company said in a disclosure posted on the Dhaka Stock Exchange's website today.
In the last six months, stocks of Orion Infusion surged around five times to Tk 488, according to data of the Dhaka bourse.