Dhaka, Feb. 11 -- Stock exchanges have downgraded three more companies to the status of junk stock over their failure to complete the distribution of approved dividends within the stipulated time.

Both the Dhaka and Chittagong stock exchanges on Monday informed investors through their websites that ACME Pesticides, SK Trims, Alif Manufacturing Company, and Advent Pharma had been relegated to Z category from B category but hours later ACME Pesticides was transferred back to B category as it submitted a compliance report on dividend distribution.

Company secretary of ACME Pesticides Sabuj Kumar Ghosh said Sunday was their last day for submitting a report on the distribution of dividends. The company was a bit late to submit the report.

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