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KUALA LUMPUR (Jan 4): Top Glove Corp Bhd announced that it has committed to a special 20% dividend in addition to its existing dividend policy of a 50% pay rate on after-tax earnings and minority interests ( PATAMI) for the second quarter through fourth quarter of the financial year ending August 31, 2021 (fiscal year 21), it said in a filing with Bursa Malaysia today.
The move is in recognition of its good earnings and strong cash flow, as well as to reward its shareholders, the glove maker said.
He said that the total dividend payment ratio of 70% in PATAMI will start from the second quarter ending on February 28, 2021.
theedgemarkets.com reported on October 7, 2020 that UOB Kay Hian Research had said a special dividend was possible for Top Glove as the company moved away from its existing semi-annual payment scheme.
Reportedly, analyst Philip Wong said that if there were any special dividends, it would likely be for the third quarter of fiscal 21.
At 2.51pm, Top Glove’s shares fell 60 sen or 9.8% to RM5.52, valuing the company at RM45.27 billion.
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