The category of two companies listed on Jibazar has improved. The company has been upgraded from Z category to ‘B’ category by Dhaka Stock Exchange (DSE) as it has completed distribution of declared dividend to investors for two financial years.

The two companies are – Acme Pesticides and Beach Hatchery Limited.

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

Acme Pesticides has been upgraded to ‘B’ category with 0.10 percent cash dividend for the period ended June 30, 2023, sources said. And Beach Hatchery returned to ‘B’ category with 2 per cent cash dividend for the period ending June 30, 2023.

From next Sunday (October 27) companies will trade in ‘B’ category.

Earlier, the DSE had placed several companies including the two in question under the Z category as per BSEC directives. However, last Sunday, BSEC took a new decision on these companies. According to the decision, the companies which will complete the distribution of 80 percent of the dividend will be transferred to the applicable category by the stock exchange. In view of this, the category of two companies has been promoted.

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