RegAlert2020-06-07
Added · Updated
DOS Circular Letter No. 19: Dividend Policy for Banks for the Year 2019
The document prohibits all scheduled banks operating in Bangladesh from distributing cash dividends declared for the 2019 fiscal year before September 30, 2020. This directive, issued to protect the interests of general investors in the capital market, applies to individual investors (local and foreign) and requires banks to comply with relevant Bangladesh Bank circulars and other prevailing laws. The order was issued with the approval of the competent authority.
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Department of Off-Site Supervision
Bangladesh Bank
(Central Bank of Bangladesh)
Head Office
Motijheel, Dhaka-1000
Bangladesh
24 Jyestha, 1427 Bangabda
DOS Circular Letter No. 19 Date: ------------------------- 07 June, 2020 AD Managing Director / Chief Executive Officer All Scheduled Banks operating in Bangladesh. Dear Sir,
Regarding the declaration and distribution of dividends against shares for the year 2019.
Reference is drawn to DOS Circular No. 03 issued by the Bangladesh Bank on 11 May, 2020, on the subject above. Through the said circular, instructions were given that cash dividends declared by banks for the year 2019 shall not be distributed before 30 September, 2020.
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In order to protect the interests of general investors in the capital market, it has been decided that cash dividends declared by banks for the year 2019 shall be distributed before 30 September, 2020, in favor of individual investors (local and foreign), subject to compliance with the relevant provisions of the Bangladesh Bank's aforementioned circular and other prevailing laws.
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This instruction is issued with the approval of the competent authority.
Yours faithfully,
(Md. Sahidul Islam)
Deputy General Manager
Phone No.: 9530093
Department of Off-Site Supervision
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Source: Bangladesh Bank — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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