PETALING JAYA: Property developer KSL Holdings Bhd has set a dividend policy of paying a minimum of 40% of annual core net profit from operations, excluding fair value gains, to shareholders with effect from the financial year ending Dec 31, 2015 (FY15).
KSL chairman Ku Hwa Seng said the dividend policy is aimed at enabling shareholders reap the returns in tandem with its expanding business. "Our business is growing positively, buoyed by the stronger demand in our property development segment and the steady income from our investment properties, notably our integrated KSL City Mall and Hotel in the heart of Iskandar Malaysia. The dividend policy is not only to reward existing shareholders, but also to attract and establish a larger institutional investor base for the long term," he said in a statement yesterday.
The quantum and frequency of the dividends are subject to various factors, including the group's financial performance, cash flow requirements, availability of distributable reserves and tax credits, future operating conditions, as well as future expansion, capital expenditure and investment plans of the group.
For FY14, KSL achieved core net profit from operations of RM256.4 million, after netting off RM83.8 million from fair value gains.
In the fourth quarter ended Dec 31, 2014, the board proposed a final single tier dividend of 5 sen per share in respect of FY14. Together with the earlier-paid interim single tier dividend of 5 sen per share, the total dividend payout amounts to 10 sen per share. This represents an estimated dividend payout of RM93.1 million of the group's core net profit for FY14, equivalent to a payout ratio of 36.3%.
The dividend payout in FY14 translates to a dividend yield of 4.7% based on the share price of RM2.12 as at March 13, 2015.
Hi my fellow HS committee members and other forummers :)) Agree with CCH la... Such is the sentiment among KSL loyal investors ... KSL is a company with value and has very good and valid story to tell to serious investors... it has all the ingredients of a stock that institutional funds would like to include in their portfolios. Please behave like an institutional stock ... not some flighty small time penny stock please. You are not a penny stock anymore.
Bravo to KSL management for spelling out a very clear 40% dividend payout policy. We now hope the Co will stick to this policy as much as possible la. Bravo to the BOD and the management. :))
Noticed that the bosses more or less honoured the 2014 divvy policy of 30%, we should have no doubt about them walking the talk on 40% divvy policy this year…..
Sikung 119, lets hope the bosses can see our point & take the necessary steps to neutralise the big hand's disruptive moves & give confidence to the short-term trading tendency to value investing again…..like Spidee has said, KSL shd behave like an institutional stock ...
Well said spidee. Now KSL's management will need to have an active share support policy to defend the price against the wolves preying on the retailers. An active share buy-back policy is required at least in the medium term to fence off the wolves raiding the share price especially after the announcement of goodies like dividends and bonus issue. This should continue until the wolves decide that not much pickings can be had in KSL anymore and go elsewhere. Only then will KSL's share price move upwards steadily, reflecting its value as it is being realised.
The treasury shares resulting from the share buy-back can be used as bonus credited as fully paid up in lieu of cash dividends. KSL should include this in their dividend policy. Then instead of all new shares for those who choose to convert their dividends to shares, KSL can also issue treasury shares.
If KSL do not implement a share price support policy, the share is unlikely to garner much long term support; and the price will also be hard to reflect the real value of KSL.
Total number of shares purchased (units) 204,500 Minimum price paid for each share purchased ($$) 2.160 Maximum price paid for each share purchased ($$) 2.170 Total consideration paid ($$) 442,539.28 Number of shares purchased retained in treasury (units) 204,500
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
kenneth89
2,695 posts
Posted by kenneth89 > 2015-03-17 09:50 | Report Abuse
back to 2.16 already... watch out