The 37th annual general meeting (AGM) of Bata Shoe Company (Bangladesh) Limited approved a 220 per cent cash dividend comprising of a final dividend of 105 per cent and interim dividend of 115 per cent for the year 2008.

Chairman of the company Fernando Garcia Restrepo presided over the meeting held at Dhamrai, near the city Thursday.

The meeting was attended by a large number of shareholders. The audited accounts for the year 2008 were approved at the meeting.

Mr Fernando said the company's turnover increased by 16 per cent despite global economic recession and its harmful impact on the economy of Bangladesh.

He further stated that the company's turnover in retail grew by 22 per cent against 2007 and the growth in wholesale was 8 per cent.