BSEC or the Bangladesh Securities and Exchange Commission, which is the regulator of the capital market of Bangladesh, comprising Dhaka Stock Exchange and Chittagong Stock Exchange, has rejected the 5 per cent bonus dividend declared by Metro Spinning Limited and approved by the company’s shareholders at an annual general meeting subsequently.
Media reports maintained this adding Metro Spinning’s Board of Directors in its 109th board meeting held on 10 October 2021 recommended 5 per cent stock dividend for the year ended on 30 June 2021 for undertaking a BMRE programme even as the proposal was approved in the AGM on 29 December 2021 and the company submitted an application accordingly to the BSEC on 2 January 2022 for its approval.
The record date for entitlement of stock dividend was supposed to be notified later subsequent to getting approval from the BSEC.
