Apex Tannery recommends 40pc cash dividend

FE Online Report | Published: August 20, 2017 06:47:31 | Updated: October 24, 2017 15:14:42

Picture used for representation

The board of directors of Apex Tannery has recommended 40 per cent cash dividend for the year ended on June 30, 2017, said an official disclosure on Sunday.


The final approval will come during the annual general meeting (AGM) scheduled to be held on September 25 at 10:00am at Bangladesh Shooting Sports Federation, Gulshan-1 in Dhaka.


The record date for entitlement of dividend is September 10.


The company has also reported earnings per share (EPS) without fair valuation surplus of Tk 2.95, net asset value (NAV) per share of Tk 73.56 and net operating cash flow per share (NOCFPS) of Tk 2.50 for the year ended on June 30, 2017 as against Tk 6.00, Tk 74.38 and Tk 3.08 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 (Sunday) following its corporate declaration.


Each share of Apex Tannery, which was listed on the Dhaka bourse in 1985, closed at Tk 149.80 on Thursday last at Dhaka Stock Exchange (DSE.


The company’s share price hovered Tk 121.90 and Tk 167.80 in the last one year.


The sponsor-directors own 45.38 per cent stake in Apex Tannery, while institutional investors own 15.27 per cent and the general public own 39.35 per cent as on July 31, 2017, the DSE data shows.


In 2016, the company also disbursed 40 per cent cash dividend.

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