The Bangladesh Securities and Exchange Commission (BSEC) has relaxed the obligation to audit quarterly financial statements of companies for declaring interim cash dividends.
The commission has made the decision after reviewing the applications of investors and companies, said a press release signed by BSEC Spokesperson Mohammad Rezaul Karim on Sunday.
The BSEC official said most of the listed companies had declared less dividends for investors as profit was low due to the 66-day countrywide general holiday announced to curb the coronavirus pandemic, but now business has become stable in the post-lockdown period.
That is why many companies want to declare interim dividends based on quarterly business results.
But as per the existing securities rules, no company can declare dividends without an audited financial statement, the press release said.