Bata Shoe Company (Bangladesh) Ltd's profit dropped 2 percent year-on-year to Tk 40.09 crore in 2023, yet it recommended its highest-ever cash dividend. 

Bata's board recommended a 435 percent cash dividend for 2023.

The shoemaker made a profit of Tk 41.01 crore in 2022. 

The decline in profit led to its earnings per share go down to Tk 29.31 for the year ended December 31, down from the previous year's Tk 29.98, according to a filing on the Dhaka Stock Exchange. 

The net operating cash flow per share declined to Tk 93.80 against Tk 107.84 the previous year. 

In Bangladesh, Bata started its operation in 1962. It has 261 retail outlets and 13 wholesale depots in the country, according to its website. 

Bata's shares dropped 0.82 percent to Tk 969.9 as of 1:24 pm today.