The bonus dividend declared for the shareholders of capital market-listed IFAD Autos PLC is yet to receive approval from the regulatory body Bangladesh Securities and Exchange Commission (BSEC).

According to sources, the company has decided to pay 1 percent cash and 1 percent bonus dividend to shareholders for the financial year ending June 30, 2024. The company’s dividend record date is set for November 18. But BSEC has not yet agreed to pay the dividend. Consequently this date will not be applicable for payment of dividend. The company will announce another record date after getting permission from the commission.

As per law, no company can pay bonus dividend without the approval of BSEC. Therefore, after the declaration of bonus shares, the company applied for the approval of the regulatory body for payment of the bonus shares.

The information is known from Dhaka Stock Exchange (DSE) sources.