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NewsBonus Issue Dialog proposes 1-for-1 bonus issue, special share dividend
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Bonus Issue Dialog proposes 1-for-1 bonus issue, special share dividend
by Cals Tue 06 May 2014, 17:27
| Bonus Issue Dialog proposes 1-for-1 bonus issue, special share dividend |
| Business & Markets 2014 |
| Written by Ahmad Naqib Idris Adzman Shah of theedgemalaysia.com |
| Tuesday, 06 May 2014 14:49 |
KUALA LUMPUR (May 6): Dialog Group Bhd has proposed a 1-for-1 bonus issue of up to 2.67 million shares, and also a 1-for-125 special share dividend, where the company will distribute up to 21.17 million treasury shares.
“The proposed bonus issue and proposed special share dividend are to reward shareholders in celebration of Dialog’s 30th anniversary of incorporation and 18th anniversary of initial public offering on Bursa Malaysia Securities Berhad on 6 May 1996,” said the group in a statement to the exchange.
The group said that the entitlement date for the proposals will be determined at a later date.
The proposals will be implemented by capitalising up to approximately RM289.8 million from the share premium account of Dialog.
As at the end of the financial year ended June 30, 2013, the share premium balance at both group and company levels are RM335.60 million and 335.57 million respectively.
The group expects to complete the proposals by the third quarter of calendar year 2014.
“The board, having considered the current and prospective financial position and capacity of Dialog group and after careful deliberation and taking into consideration the rationale and effects of the proposals, is of the opinion that the proposals are in the best interests of the group,” said Dialog.
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