Five companies get more time to submit financial reports

The Bangladesh Securities and Exchange Commission (BSEC) has granted five companies a time extension to submit their financial reports.

The companies are: First Finance, Prime Finance, Progressive Life Insurance, Delta Life Insurance, and Fareast Life Insurance.

First Finance and Prime Finance have up to September 30, 2020 to submit annual audited financial statements for the year that ended on December 31, 2019, and unaudited financial reports for the first and second quarters of this year, said a source at BSEC.

The other three companies have had their time extended to October 4, 2020 for submitting the financial statements.

According to the Dhaka Stock Exchange (DSE), First Finance and Prime Finance have not paid any dividend to their shareholders since 2015.

The two companies are in the "Z" category on the stock exchange.

First Finance posted a loss of Tk3.29 per share in the first three quarters of 2019.

However, the company's share price soared by 74% in the last two months. The closing price of each of its shares stood at Tk8.70 at the DSE on Sunday.

Prime Finance has not submitted its financial reports since September 30, 2019. The company posted Tk0.07 earnings per share for the first three quarters of 2019.

However, its share price increased by 9.62% to close at Tk11.40 on the DSE floor on Sunday. Its share price has risen by 90% in the last two months.

Meanwhile, Progressive Life Insurance failed to pay a dividend to its shareholders after 2015.

The share price of the "Z" category company gained 5.43% to close at Tk133.70 at the country's premier bourse Sunday.

Delta Life Insurance and Fareast Life Insurance paid 26% and 20% cash dividends, respectively, for the 2018 financial year.