Developer declares additional dividend of RM144 million, adding to the RM792 million bumper dividend declared last month.
Eco World International president and CEO Teow Leong Seng said shareholders can look forward to potentially more dividends in FY2024.
“This is consistent with our intention to progressively distribute the bulk of the proceeds received from the monetisation of stocks, less our reduced working capital requirements, to our shareholders as dividends over time,” he said in a statement accompanying the results of its third quarter ended July 31 .
Based on its share capital of 2.4 billion, the second tranche of RM144 million translates into a dividend of 6 sen per share. Teow said as of Aug 31, EWI and its joint venture have approximately RM1.1 billion in completed and nearly-completed stocks available for sale. During its third quarter, the developer paid off borrowings of RM744.05 million, and is now debt free.
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