The Financial Express

Apex Footwear recommends 25pc cash dividend

| Updated: September 24, 2020 10:17:02

Apex Footwear recommends 25pc cash dividend

The Board of Directors of Apex Footwear Limited has recommended 25 per cent cash dividend for the year ended on June 30, 2020.

The board of directors has also recommended to amend/inclusion/deletion the Articles of Association of the Company subject to approval by the shareholders at the extraordinary general meeting (EGM), according to an official disclosure on Tuesday.

The EGM and annual general meeting (AGM) will be held on November 12 at 11:00am and 11:15am respectively through digital platforms.

The record date for EGM and AGM is October 12.

The company has also reported earnings per share (EPS) of Tk 5.62, net asset value (NAV) per share of Tk 249.95 and net operating cash flow per share (NOCFPS) of Tk 144.14 for the year ended on June 30, 2020 as against Tk 10.91, Tk 249.83 and Tk 86.29 respectively for the same period of the previous year.

There will be no price limit on the trading of the shares of the company today (Tuesday) following its corporate declaration, however, as per the BSEC Order dated March 19, 2020, the floor price shall be applicable accordingly.

Each share of the company, which was listed on the Dhaka Stock Exchange in 1993, closed at Tk 243.10 on Monday.

Its shares traded between Tk 210 and Tk 275 in the last one year.

The company disbursed 55 per cent cash dividend for the year ended on June 30, 2019.

The company’s paid-up capital is Tk 113 million and authorised capital is Tk 500 million while the total number of securities is 11.25 million.

The sponsor-directors own 25.48 per cent stake in the company, while the institutional investors own 37.32 per cent, foreign investors 0.12 per cent and the general public 37.08 per cent as on August 31, 2020, the DSE data shows.

Apex Footwear Ltd - a leading shoemaking brand in Bangladesh started its journey more than two decades ago on January 4, 1990. From the inspiration of the leather business, it started the shoemaking operation.

Apex began its retail chain in 1997 to fulfill the footwear needs of Bangladeshi consumers.

Apex Footwear is also the largest shoemaker of South Asia.

Since its inception, Apex has sought to make use of their expertise in shoemaking and gathered through serving major shoe retailers across the world to provide high quality and fashionable footwear to everyone.


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