Dhaka, Dec. 19 -- A majority of the companies listed with the SME board plunged since the first week of October, driving down the index by 23 per cent or 373 points to 1,277.

Interestingly, the decline coincided with the corporate disclosures informing investors of the companies' remarkable growth in earnings that inspired good dividends.

Twelve of the 15 companies listed with the board declared 5-15 per cent cash dividend for the year ended in June this year. The disclosures came from early October but that largely failed to bring any positive outcome for stocks.

Except for Yousuf Flour Mills and Star Adhesives, 10 companies have seen their share price fall by 15-42 per cent.

Star Adhesives inched up while Yousuf Flour shot up by 110...