[ad_1]
KUALA LUMPUR: Top Glove Corporation Bhd
, which has posted supernormal gains due to increased demand caused by the Covid-19 pandemic, announced Monday that it has committed to a special 20% dividend.
In a press release on Monday, the world’s largest glove maker said the special dividend was in addition to its existing dividend policy of a 50% dividend payment rate on its after-tax earnings and minority interest for the second, third and fourth quarters of the financial year. 2021.
At 3.47 pm, it was trading at RM5.65, 47 sen less with almost 320 million shares made.
It reached an initial low of RM5.23.
The FBM KLCI fell 18.90 points or 1.16% to 1,608.32. The turnover was 6.04 billion shares valued at RM4.85bil.
The decliners beat outposts from 1,000 to 289, while 307 counters did not change.
Top Glove and other glove manufacturers fell sharply in early trading, triggered by increased temporary suspension of regulated short selling (RSS) by the Securities Commission (SC) and Bursa Malaysia Bhd.
In a statement issued on December 16, the SC and Bursa Malaysia said: “The RSS suspension, scheduled to expire on December 31, 2020, will be raised on January 1, 2020, to facilitate risk management for investors. and revive the securities lending activities lending (SBL), which is an integral function of the capital market to promote product development and market-making activities. “
[ad_2]
