Robi share drops 9.57% after no dividend declaration
According to market insider, Robi posted eight times higher profit
Robi Axiata's share price dropped by 9.57% as it declared no dividend to the shareholders for 2020 that ended on 31 December.
In the first one-and-half hour of trading session on Tuesday at the Dhaka Stock Exchange (DSE), the company's share price lost Tk4.4 to settle at Tk41.60.
It also secured the second position of the DSE turnover chart with trading value of Tk54.18 crore.
Keep updated, follow The Business Standard's Google news channel
The company declared no dividend at the board meeting that held on Monday evening.
According to market insider, Robi posted eight times higher profit, but declared no dividend of its first year journey at the stock exchange. That declaration break the investors' confidence. That is why indices of the both stock exchanges witnessed flat session.
The securities regulator called the Robi's high official today to know the reason behind the declaration.
Meanwhile, DSEX, the key index of the DSE rose by 0.14% or 7.84 points to reach at 5,552 till 11:30 am.
While, 117 companies share price rose, 97 issues fell and 104 issues price remain unchanged during the session at the DSE.
During this session, DSE turnover increased by 23% to Tk453.07 crore.
The benchmark index CASPI at the Chittagong Stock Exchange (CSE) lost 15 points to 16,057 till 11:30 am.
