Mir Akhter Hossain shares plunge 12% on zero dividend declaration

There was no standard price limit on the trading of its shares today following the corporate recommendation.

Shares of Mir Akhter Hossain Limited, one of the country’s leading construction firms, plummeted by 12.41% today (27 October) after the company declared no dividend for the first time since its stock market listing.

Following the corporate disclosure filed with the Dhaka Stock Exchange (DSE), the company’s stock price dropped to close at Tk25.40, making it the top loser on the premier bourse during the session.

There was no standard price limit on the trading of its shares today following the corporate recommendation.

The decision to skip dividends for the financial year ended 30 June 2026 comes as a stark contrast to FY25, when the company disbursed a 10.50% cash dividend to its shareholders.

According to its price-sensitive statement, the company has scheduled its annual general meeting (AGM) for 23 December to approve the no-dividend recommendation and audited financial statements. The record date has been set for 19 November.

The dividend skip follows a sharp financial downturn in the final quarter of the fiscal year.

Financial reports show the construction major maintained a net profit of Tk8 crore through the first nine months up to March 2026. However, a massive loss of Tk87 crore incurred during the final quarter (April-June) dragged its total annual loss to Tk79 crore.

Consequently, the company reported consolidated earnings per share (EPS) of negative Tk6.58 for FY26, compared with positive EPS of Tk1.72 in the previous financial year.

Its consolidated net asset value (NAV) per share fell to Tk44.21 from Tk51.51 in FY25, while consolidated net operating cash flow per share (NOCFPS) dropped to Tk2.58 from Tk6.68.

Listed on the bourses in 2021 and currently trading in the “A” category, Mir Akhter Hossain had raised Tk125 crore through an initial public offering (IPO) under the book-building method in late 2020 to expand its business, acquire heavy construction equipment, and service existing bank liabilities.

Source: The Business Standard