Shares of Mir Akhter Hossain Limited, a prominent construction company, fell sharply by 12.41% on Wednesday following the announcement that the firm will not declare a dividend for the fiscal year ending June 30, 2026. This marks the first time since its stock market debut that the company has opted to withhold dividend payments.

The decline sent the stock to close at Tk25.40 on the Dhaka Stock Exchange, making it the largest loser of the trading session. The usual price ceiling on the share was lifted for the day in response to the announcement.

Mir Akhter Hossain’s dividend suspension contrasts with last year’s payout when shareholders received a 10.50% cash dividend. The company attributed the decision to its financial performance, which deteriorated significantly in the last quarter of the fiscal year.

For FY26, the firm reported a consolidated loss, with earnings per share falling to negative Tk6.58 from a positive Tk1.72 in FY25.

The company has scheduled its annual general meeting for December 23 to seek shareholder approval for the no-dividend proposal as well as to present the audited financial statements. The record date for shareholders eligible to attend the AGM is November 19.

This development reflects the challenges faced by Mir Akhter Hossain amid the broader economic conditions impacting the construction sector and the company’s profitability in the most recent financial period.