Dhaka, Bangladesh (BBN)-The board of directors of Bata Shoe has recommended 105 percent final cash dividend in addition to the 195 percent interim cash dividend.
With the declaration, a total of 300 percent dividend was declared for the year ended on December 31, 2013, said a company statement issued on Thursday.
The recommendation was made at the 42nd annual general meeting (AGM) of Bata Shoe Company (Bangladesh) Limited held at Dhamrai in Savar, on the outskirts of the capital Dhaka, on Thursday.
At the meeting the shareholders approved the audited financial statements for the year 2013 and the payment of a final dividend of 105 percent of the issued and paid up capital of the company.
Together with the interim dividend of 195 percent paid in December 2013, the total dividend for 2013 will be 300 percent.
The meeting was presided over by Bata Chairman Rajeev Gopalakrishnan.
The meeting was attended by a large number of shareholders.
Rajeev, in his address to the shareholders, reported that the company’s turnover increased by 7.0 percent despite the global economic recession and continuous political disturbances in the country in the form of strikes, hartal and road blockades.
The company achieved a net profit of BDT 813 million in 2013.
During 2013, the company contributed approximately BDT 1,798 million to the national exchequer in the form of corporate tax, VAT, custom duties and other taxes.
Chitpan, the managing director of the company, together with other directors also attended the meeting.
BBN/BB/ANS-19June14-9:40pm (BST)
