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Uchi proposes 4 sen dividends

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Uchi proposes 4 sen dividends Empty Uchi proposes 4 sen dividends

Post by Cals Tue 19 Nov 2013, 21:33

Uchi proposes 4 sen dividends
Business & Markets 2013
Written by Chong Jin Hun of theedgemalaysia.com   
Tuesday, 19 November 2013 18:08
KUALA LUMPUR (Nov 19): Uchi Technologies Bhd has proposed total interim dividends of four sen a share for current financial year ending December 31, 2013.
In a statement to the exchange today, Uchi said the electronic component manufacturer plans to reward shareholders with a tax-exempt dividend of 2.52 sen besides a 1.48 sen payout less 25% tax.
"A further announcement will be made at a later date upon finalisation of the entitlement and payment date of the above.
"In line with group's dividend policy whereby a minimum of 70% of net profit is allocated, the board of directors shall make further adjustment in the final dividend, if necessary, upon finalisation of the group's pioneer status application," Uchi said.
Uchi's proposed dividends come at a time when its financials have weakened.
In a separate statement, Uchi said net profit fell 42% to RM6.74 million in the third quarter ended September 30, 2013 from RM11.6 million a year earlier.  Revenue  declined to RM22.93 million from RM25.94 million.
Cumulative nine-month net profit was lower at RM23.72 million from RM30.74 million a year earlier. Revenue, however rose to RM72.61 million from RM65.93 million.
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