Bata Shoe’s annual profit drops 2.0pc in 2023
The shoemaker declares 105pc final cash dividend
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Bata Shoe Company’s net profit fell 2 per cent year-on-year in 2023 and the board declared 105 per cent final cash dividend, taking the total cash dividend of 435 per cent for 2023.
The multinational footwear maker earlier paid a 330 per cent interim cash dividend for 2023.
Thus, earnings per share stood at Tk 29.31 in 2023, down from Tk 29.98 in the year before, according to a stock exchange filing on Thursday.
The net operating cash flow per share reduced to Tk 93.80, as against Tk 107.84 because of various payments to suppliers and contractors for goods and services.
Its net asset value also dropped to Tk 237.93 in 2023, from Tk 252.16 a year earlier, due to lower profit.
Its stock price plunged 3.77 per cent to Tk 941 after two hours of trading on Thursday.
In 2022, the multinational shoe maker paid a 365 per cent cash dividend.