Overview
Dividend Policy
INTRODUCTION
Dividend Policy is a set of guidelines established to ensure that dividends declared are in reflection of financial position, operating performance and future investment needs in order to ensure stable and sustainable returns to shareholders.
PURPOSE
The objectives of the Dividend Policy are:
- To facilitate decision making in respect of the declaration and payment of dividends for each financial year;
- To provides stable and sustainable returns to shareholders consistent with earnings growth; and
- To ensure any declaration and payment of a dividend are in compliance with Companies Act 2016 (as amended from time to time) (“CA 2016”).
SCOPE
This policy applies to KPS Berhad.
GUIDING PRINCIPLES
The guiding principle of the Dividend Policy is in compliance but not limited to the CA 2016 and Delegation of Authority Policy.
ASPECTS
- There are two (2) types of dividends payment which are interim dividend and final dividend
- All dividend declared must be in compliance with the CA 2016
- Pay out dividends of at least 30% of its consolidated normalized annual net profit after taxation and minority interest (“PATAMI”) annually subject to approval by the KPS Berhad’s Board of Directors and the Shareholders of the Company
- KPS Berhad is required to comply with Malaysian Financial Reporting Standard (“MFRS”) 110: Event after Balance Sheet Date when accounting for dividend
