DHAKA, May 13, 2026 (BSS) - The Bangladesh Securities and Exchange Commission (BSEC) has imposed a total fine of Tk 7.2 crore on the chairman, directors and senior officials of Fortune Shoes Limited for failing to distribute declared dividends to shareholders and pay listing fees.

The fine was imposed today at the 913th commission meeting held with Khondoker Rashed Maqsood in the chair, said a press release.

According to a BSEC press release, Fortune Shoes had declared a 10 percent cash dividend and 5 percent stock dividend for the fiscal year ended June 30, 2022. 

However, the company failed to disburse Tk 3.98 crore out of the total declared cash dividend of Tk 16.25 crore.

The company also failed to pay Tk 18.29 lakh in listing fees to the Dhaka Stock Exchange as of July 31, 2023. 

The commission directed the company to clear the unpaid dividend and listing fees within 30 days.

BSEC said the penalties were imposed due to violations of securities laws and actions deemed harmful to general investors.

As part of the enforcement action, Md. Mizanur Rahman was fined Tk 5 crore, while Roksana Rahman, Md. Amanur Rahman, Robiul Islam and Md. Khosrul Islam were each fined Tk 50 lakh.

In addition, Jamil Ahmed Chowdhury was fined Tk 10 lakh, while Md. Nazmul Hossain and Riaz Uddin Bhuiya were each fined Tk 5 lakh.

The penalized officials have been instructed to deposit the fines to the commission within seven days.

The commission meeting also approved issuance of a notification regarding capital raising, including rights and bonus shares, for companies where sponsor-directors jointly hold less than 30 percent shares.

Besides, 'A' category banks will now be allowed to maintain dividend accounts within their own banks.

The BSEC further announced the "BSEC Capital Market Journalism Excellence Awards & Fellowship 2026" aimed at encouraging analytical and credible reporting on the capital market. 

Under the initiative, nine journalists from print, electronic and online media will receive awards and fellowships.