EcoWorld International declares RM792m interim dividend following capital reduction

ECOWORLD International Bhd (EcoWorld) has announced a first tranche dividend of RM792 million, equivalent to 33 sen per share, as an interim dividend for the financial year ending October 31, 2023 (FY23).

The dividend declaration follows the successful completion of the company’s share capital reduction under the Companies Act 2016.

The dividend is scheduled for payment on September 29, with an entitlement date set for September 11.

The dividend amount exceeded expectations, reaching RM792 million due to robust progress in the sale of completed stocks, resulting in substantial cash generation. EcoWorld intends to prioritise cash preservation and generation while working towards further distributions to shareholders.

The company’s stock closed at 64 sen, up by 0.5 sen, with a trading volume of 2.39 million shares. – TMR