Dhaka, May 28 -- The Bangladesh Securities and Exchange Commission (BSEC) has announced it will take action against listed companies that have declared dividends but failed to distribute them among investors.

In an official statement on Wednesday signed by BSEC Director Md Abul Kalam, the capital market regulator disclosed that it has initiated discussions with 22 such companies to address the matter.

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The meetings involve top executives of the companies, who have been asked to explain why dividends were announced but not disbursed.

The BSEC has instructed the companies to resolve the ongoing issues preventing them from paying out dividends.

Besides, the commission said punitiv...