Amid declining profitability, the company's board of directors on Monday declared only a 12% cash dividend for the last fiscal year, which was their lowest in six years. The three companies are FB Footwear Ltd, Footbed Footwear Ltd, and Nuovo Shoes (BD) Ltd, as some directors of Apex Tannery are also directors in those three companies, according to the disclosure. Apex Tannery reported its loss per share without fair valuation surplus at Tk1.19, net asset value (NAV) per share of Tk63.89 and net operating cash flow per share (NOCFPS) of Tk-3.34 for 2019-20FY, as against Tk1.41, Tk69.21 and Tk-8.65 respectively for the previous fiscal. Meanwhile, shares in Apex Tannery closed the day (Tuesday) at Tk108.40, down by 2.59% from Tk111.90 per share in the previous session on the Dhaka bourse. Apex Tannery recommended a 12% cash dividend for FY20, while it disbursed 35% cash dividend for FY19, 40% for FY18, 40% for FY 17, 40% for FY16 and 45% cash dividend for FY15.

Source: Dhaka Tribune September 29, 2020 14:37 UTC