The Bangladesh Securities and Exchange Commission on Thursday decided to issue a fresh circular to remind the listed companies that they were not allowed to offer cash or kind to its shareholders in the annual general meeting but cash dividend or stock dividend, a BSEC release said.
During or after the AGM, many listed companies offer gifts to the shareholders who attend the programme, disrupting the main function of the AGM, the release observed.
The BSEC made the decision in a regular commission meeting presided over by its chairman M Khairul Hossain.
Earlier in October, 2000, a BSEC notification had asked the companies to maintain this practice, but many of them did not adhere to the rule.
This fresh circular will be issued in line with that notification, said the release.
-With New Age input
