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90 cos to hold AGMs this week

FE REPORT | December 26, 2022 00:00:00

As many as 90 companies listed on the exchanges' main boards and SME platforms will hold their annual general meetings (AGM) for fiscal year 2021-22 this week.

At the AGM, these companies will seek investors' approval for the financial statements, recommended dividends and appointment of auditors for the next fiscal year.

According to filings with the Dhaka Stock Exchange (DSE), the AGMs of 89 companies will be held virtually while a SME company will hold physical meeting in the capital.

Of the 90 companies, 84 are listed on the main boards and the remaining six on the SME platforms.

The six SME companies are Achia Sea Foods, BD Paints, Yousuf Flour Mills, Bengal Biscuits, Krishibid Seed, and Apex Weaving and Finishing Mills.

The other companies, listed on the main board, include ACI Formulations, ACI, Desh Garments, MJL Bangladesh, Bashundhara Paper Mills, Beacon Pharmaceuticals, Crown Cement PLC, eGeneration, Runner Automobiles, United Power Generation & Distribution Company, Bangladesh Steel Re-Rolling Mills, BSRM Steels, GPH Ispat, and Active Fine Chemicals.

Some 15 companies have recommended good dividends for fiscal year '22. Of them, MJL Bangladesh has declared 50 per cent cash dividend, Pharma Aids 50 per cent cash, ACI 50 per cent cash and 5.0 per cent stock, Olympic Industries 45 per cent cash, Bangladesh Steel Re-Rolling Mills 35 per cent cash, Agricultural Marketing Company (Pran) 32 per cent cash, BSRM Steels 30 per cent cash, ACI Formulations 25 per cent cash, and Wata Chemicals 20 per cent cash.

Sonali Aansh Industries has recommended 100 per cent stock dividend to comply with the regulatory requirement to increase the paid-up capital.

Most other companies' dividends range between 1.0 per cent and 10 per cent.

On the other hand, some companies recommended no dividend. They include Zaheen Spinning, Atlas Bangladesh, BD Thai Aluminium, Renwick Gajneswar, Shyampur Sugar Mills, Standard Ceramic Industries, Zeal Bangla Sugar Mills, Golden Son, National Tubes, Central Pharmaceuticals, Khulna Printing & Packaging, Samata Leather.

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