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Apex Footwear has recommended a 30 per cent dividend, comprising 15 per cent cash and 15 per cent stock, for the financial year ended June 30, 2026.
The company’s board made the recommendation at a meeting and proposed holding its annual general meeting (AGM) on November 29 at 11:00am through a digital platform, in line with an order from the Bangladesh Securities and Exchange Commission (BSEC).
October 15 has been set as the record date to determine shareholders eligible for the dividend.
The listed footwear maker reported a nearly 15 per cent year-on-year increase in earnings per share (EPS) to Tk7.91 in FY26, compared with a restated Tk6.90 a year earlier, supported by higher sales.
Net asset value (NAV) per share increased to Tk355.25 from Tk349.35, while net operating cash flow per share (NOCFPS) turned negative at Tk96.97, compared with a restated positive Tk45.19 in the previous year.
The company said the stock dividend was recommended to convert retained earnings into paid-up capital and strengthen its capital adequacy. It said the stock dividend would be paid from accumulated profit and not from capital or revaluation reserves.
The company also said the dividend would not be paid from unrealised gains, pre-incorporation profits, reduction of paid-up capital or any source that would leave retained earnings negative or in a debit balance after the distribution.
Apex plans Tk5b preference-share issue
Apex Footwear’s board has also approved a plan to issue redeemable preference shares worth up to Tk5 billion to refinance existing loans.
The proposed issue is subject to approval from shareholders and the BSEC. The board also decided to amend the company’s Memorandum and Articles of Association, subject to shareholder approval.
The company did not disclose details of the proposed preference shares or the loans to be refinanced.
Apex Footwear manufactures and markets footwear and accessories in domestic and international markets. It operates two manufacturing plants and a tannery unit.
Besides its own brands, the company’s local business also sells footwear and accessories of foreign brands, including Venturini, Nino Rossi and Moochi.
The company said it continued to focus on product diversification, which it expects will support further sales growth.
