Unusual surge of BDCOM’s share price continues

Despite warnings issued by the Dhaka Stock Exchange (DSE), the share price of BDCOM Online Limited continued to rise. 

Last week, the company’s share price rose Tk 10.70 or 31.20 percent to Tk 45, from Tk 34.30 on the last working day of the previous week.

The company’s share price increased Tk 10.10 or 41.74 percent in the previous week. As a result, the company’s share price has risen from Tk 24.20 to Tk 45 over the last two weeks.

Meanwhile, a part of the investors have sold the shares of the company due to the increase in prices. As a result, the company’s share turnover during the week was worth Tk 117.76 crore. The average turnover per working day was Tk 29.44 crore.

DSE authorities say the rise in the company’s share price is unusual. However, the company authorities said that there is no undisclosed price sensitive information behind this unusual price increase.

A notice was sent to the company from the DSE on March 9 in view of the unusual rise in the share price of the company. 

The DSE then told investors, based on information provided by the company’s authorities, that there was no price-sensitive information behind the unusual rise in BDCOM share prices. 

However, the DSE’s warning message did not stop the company’s share price from rising.

BDCOM has decided to pay a 5-percent cash dividend to the investors for the last financial year ending on June 30, 2021. 

Earlier, the company paid a cash dividend of 5 percent in 2020, 6 percent in 2019, 7 percent in 2018, 5 percent in 2017 and 5 percent in 2016.

According to the latest published financial report of the company, the earnings per share for the first half of the current financial year (July to December, 2021) were Tk 0.75. 

At the same time of the previous financial year, the earnings per share were Tk 0.43.