CAHYA Mata Sarawak Bhd (CMS) has adjusted its dividend payout policy to a minimum 30% of its annual consolidated profit after tax and non-controlling interests to shareholders.
The 30% payout, or subject to a minimum of two sen per share, is also contingent on the company’s level of available cash and cash equivalents, and return on equity and retained earnings.
In an exchange filing on Monday, the Sarawak-based infrastructure facilitator noted its dividend payment will also be subject to the company’s projected levels of capital expenditure and other investments.
For its fiscal year ended Dec 31, 2017, the company declared an eight sen dividend to shareholders, representing a 39.9% payout rate based on its 20.03 sen earnings per share (EPS) that year.
The company managed to bring in RM208.62 million in net profit over the first nine months of 2018 for an EPS of 19.45 sen. — TMR