BSCCL downgraded to B category

Dhaka Stock Exchange yesterday downgraded Bangladesh Submarine Cable Company Ltd to “B” category as the company has approved 5 percent dividend last year. To remain in “A” category, every company has to declare at least 10 percent dividend every year. Stock brokers and merchant bankers have also been requested to abstain from providing loan facilities for the purchase of the company's share in the first 30 trading days after the change of categorisation, with effect from November 11.