Business Desk :
Apex Footwear Limited has recommended 35% cash and 5% stock dividends for the year ended on June 30, 2021.
In a filing with the Dhaka Stock Exchange on Thursday, the company reported earnings per share (EPS) of Tk9.36 and net asset value (NAV) per share of Tk256.81 for the year ended on June 30, 2021 against Tk5.62 and Tk249.95, respectively, for the same period of the previous year.
The company also said that the stock dividend has been recommended to utilize its retained amount as paid-up capital for improving the capital adequacy of the company.
It further said that the stock dividend has been declared out of accumulated profit and not declared from the capital reserve or revaluation reserve or any unrealized gain or out of profit earned prior to incorporation of the company.
It was not paid through reducing paid-up capital or through doing anything so that the post dividend retained earnings become negative or a debit balance.
The annual general meeting of the company is scheduled to take place on November 22 via a digital platform.
The closing price for each of its shares was Tk304.2 during Thursday’s session
