CMSF will collect dividends distributed to investors
Companies are being repeatedly urged to collect unpaid dividends from investors. The Capital Market Stabilization Fund (CMSF) is planning to unearth the dormant dividends and collect them.
CMSF Chairman and Prime Minister's former Chief Secretary Md. Najibur Rahman gave this information.
In the president's speech, Najibur Rahman said that the current share market is vibrant. There will be more Vibrant ahead. We are working towards that goal. We are working on the claims of the investors. Investors' claims are being settled. It will continue.
Regarding the collection of undistributed dividend, he said, I am trying to find out the dividend lying idle. I have planned this. For this purpose, discussions are being held with various stake holders of bank-insurance.
Bangladesh Securities and Exchange Commission (BSEC) Chairman Professor Shibli Rubaiyat-ul-Islam, the chief guest of the event, said that not even a single rupee of dividend due to investors will be exempted. All interest will be charged. No excuses will be heard. If the dividend is not returned, I will take a strict stand against the accused companies.
BSEC has written to companies which have not yet deposited the undistributed dividend into the fund.
Shibli Rubaiyat said, “We have given a lot of time and waited. No more time will be given after this month. After March 31, the commission will be strict.
"If any company does not account for the dividend within the current month and does not tell where the fund is and does not transfer it to the stabilization fund, then the commission will take strict action. The penalty will be several times higher than the undistributed dividend.”
The BSEC chairman gave this warning in an event titled 'Bangabandhu Sheikh Mujibur Rahman's birth anniversary celebration and settlement of shareholders' demands' on Tuesday.
The BSEC had earlier written to the companies directing them to deposit the distributed dividends of the listed companies in the Capital Market Stability Fund (CMSF) by March 31 this year.
Incidentally, CMSF has already settled the claims of 537 investors for 1 crore 98 lakh 89 thousand 882 taka in cash and 203 investors for 2 lakh 4 thousand 204 shares. In this event, the claim of 64 investors 5 lakh 33 thousand 232 taka and 48 investors 62 thousand 556 shares were settled.
The event was attended by the Commissioner of BSEC. Sheikh Shamsuddin Ahmed, Dr. Md. Mizanur Rahman, the newly elected chairman of DSE. Hafiz Muhammad Hasan Babu, CSE Chairman Asif Ibrahim and others.
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