2 years ago

Undistributed stock dividend: CMSF likely to start settlement process this month

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The Capital Market Stabilisation Fund (CMSF) is set to start the process of settlement of investors' claims for undistributed stock dividend this month.

Officials said the CMSF has framed a guideline to implement the settlement of the claims.

"The Board of the CMSF has approved the guideline and it has been sent to the securities regulator for its consent," said an official of the CMSF.

The CMSF will start the settlement of claims this month after receiving the consent of the regulatory body, he added.

On June 27 last year, the Bangladesh Securities and Exchange Commission issued rules for the CMSF to help revitalise the market and settle the investors' claims for undistributed stock dividends.

So far, the CMSF has received undistributed cash dividend worth Tk 4.80 billion from different listed securities.

On the other hand, the amount of undistributed stock dividend deposited into the account of the CMSF has stood at around Tk 6.50 billion at market price.

The CMSF has already resolved investors' claims for cash dividend worth around Tk 10 million.

Besides, the state-run Investment Corporation of Bangladesh (ICB) has received Tk 2.25 billion from the CMSF to invest in the capital market and the entire amount has already been injected into the market.

As a sponsor, the CMSF has also contributed Tk 500 million to float a closed-end mutual fund namely ICB AMCL CMSF Golden Jubilee Mutual Fund.

The size of the fund will be Tk 1.0 billion.

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