Regulator blocks Bangladesh Autocars’ dividend

The BSEC has decided to prevent Bangladesh Autocars from giving a 15 percent stock dividend that the company announced for its shareholders last month.The regulator will now apprise the Central Depository Bangladesh Ltd of its decision.

The company had announced the dividend based on its EPS being Tk 1.53 last fiscal year, but according to securities directive, a company cannot offer dividend if it has cumulative losses. Bangladesh Autocars had a cumulative loss of Tk 2.66 crore.