The categories of three companies listed on the capital market have been upgraded. The Dhaka Stock Exchange (DSE) has upgraded the companies from Z category to ‘B’ category after the companies completed the distribution of the declared dividends of the three financial years to investors.

The three companies are – Far Chemical, National Tubes and Sharp Industries PLC.

This information was revealed by Dhaka Stock Exchange (DSE) sources.

According to the source, Far Chemical has been upgraded to ‘B’ category with a cash dividend of 1 percent for the period ended June 30, 2024. And for the period ended June 30, 2024, National Tubes has returned to ‘B’ category with a cash dividend of 4 percent and Sharp Industries has returned to ‘B’ category with a cash dividend of 1 percent.

The companies will trade in ‘B’ category from tomorrow, Thursday (January 23).

Earlier, the DSE had sent several companies, including the three companies in question, to the Z category as per the BSEC’s instructions. However, last Sunday, the BSEC took a new decision regarding these companies. According to the decision, the stock exchange will transfer the companies that have completed 80 percent dividend distribution to the applicable category. Accordingly, the categories of the three companies have been upgraded.

However, due to the category change, the DSE has prohibited broker houses and merchant banks from providing loan facilities to these companies within the next 7 working days.