15 Nov 2022 PGF Capital Announces New Dividend Policy
PGF Capital Berhad has adopted a dividend policy to distribute not less than 25% out of its consolidated profits generated from operating of ordinary businesses after taxation in each financial year in the form of dividends to the shareholders of the company annually.
The group in a Bursa filing said it will commence from the financial year ending 29 February 2024 (i.e. financial period starting from 1 March 2023 to 29 February 2024). The dividend pay-out it added should always not be less than 1 sen for each ordinary share of the company.
However, factors in relation to before a dividend declaration will aloe depend on the level of available cash and cash equivalents, gearing, return on equity, retained earnings, expected financial performance, future capital expenditure, investment plans, and financing requirements, working capital requirements; any contractual restrictions; considerations for non-recurring items; and for the company to remain solvent and to pay its debts.
The declaration of interim dividends and/or the recommendation of final dividends are subject to the confirmation of the Board and to any applicable law and contractual obligations provided that such distributions would not be detrimental to the cash needs of the Company or to any plans approved by the Board. Any final dividend for a financial year is subject to shareholders’ approval.
It also stated that the Dividend Policy merely describes the company’s present intention and will not constitute legally binding statements in respect of its future dividends.