DSE AGM held, approves 6.0pc cash dividend
FE ONLINE REPORT | Tuesday, 27 December 2022
The Dhaka Stock Exchange (DSE) has approved a 6.0 per cent cash dividend for its shareholders for the year ended June 30, 2022.
The approval came at the premier bourse’s 61th annual general meeting (AGM) held on Monday at the DSE Tower at Nikunja in Dhaka, according to a press release.
The shareholders received, considered, and adopted the audited financial statements of the DSE for FY 2021-22, appointed auditors for the next financial year.
The AGM also included two newly elected directors --- Md Shakil Rizvi and Mohammad Shahjahan in the board.
Also, the shareholders remembered the shareholders, relatives of the shareholders who passed away and sought forgiveness for their departed souls.
The AGM was presided over by its Chairman Md Eunusur Rahman while Richard D` Rozari, managing director of Global Securities, Md. Sajedul Islam, managing director of Shyamol Equity Management, Md. Saifuddin, managing director of IDLC Securities, Ahmad Rashid, managing director of Rashid Investment Services, Dr. Md. Zahirul Islam, chairman of Prilink Securities, was present among others.
Eunusur Rahman said the DSE is working for a completely digital platform in the interest of the capital market as well as investors so that all the stakeholders can be benefited.
The board of directors has taken a number of initiatives to introduce diversified products for generating DSE’s revenue, he said.
He also said that while the market was buoyant in the first six months of the year, the last six months slowed down due to the Ukraine-Russia war.
Since the beginning of the Ukraine-Russia war, there has been instability in the world’s capital markets. The country’s capital market is also not left out of this situation.
The market situation keeps changing due to various reasons. Turnover and indices continue to decline. The general investors are panicked by the continuous fall in prices and several steps were taken by the Bangladesh Securities and Exchange Commission to restore normalcy in the market.
The impact of the multi-faceted crisis of the world economy is connected with the ongoing sluggish trend of the capital market, he said.
The impact of the increase in the value of the dollar around the world has put the small economies in trouble. There is instability in the economy commodity prices in international markets have been on the rise since late 2021 due to a sudden surge in demand amid the post-pandemic global recovery.
The supply chain and exports of various commodities, including fuel oil and gas fertilizers, were disrupted.
As a result, forecasts of economic recession with inflation in almost all countries became noticeable. Inflation in the United States and Europe reached the highest level in the last eight to nine years.
Due to high inflation, many people in developing countries are panicking about economic disaster in their own country.
Due to the hostile situation of the global economy, a negative trend is also observed in various financial indicators of the Bangladesh economy.
As a result, the economy of Bangladesh is also under pressure.
However, due to the foresight of the government and the sincere efforts of all concerned, the economy of Bangladesh is relatively stable, he said.
DSE managing director (Acting) Shaifur Rahman Mazumdar answered various questions regarding development of the equity market, SME Market, Alternative Trading Board (ATB), implementation of ETF, Bonds Market Development-Government Securities Market, and Corporate Bond.