The world’s largest glove maker said the special dividend was in addition to its existing dividend policy of a 50% dividend payout ratio on its profit after tax and minority interests for the second, third and fourth quarters of financial year 2021.
MAINBOARD-LISTED Top Glove Corporation has committed to a special dividend of 20 per cent, in addition to its existing dividend policy of a 50 per cent payout ratio on profit after tax and minority interests (PATMI).
The total 70 per cent dividend payout ratio on PATMI will be applicable for the second quarter to the fourth quarter of FY2021, the Malaysia glove maker said in a bourse filing on Monday.
This is in consideration of its "good profit performance and strong cash flow", as well as to reward shareholders, Top Glove said.
At 3.47pm, it was trading at RM5.65, down 47 sen with nearly 320 million shares done.
It hit an early low of RM5.23.
The FBM KLCI was down 18.90 points or 1.16% to 1,608.32. Turnover was 6.04 billion shares valued at RM4.85bil.
Decliners hammered advancers 1,000 to 289 while 307 counters were unchanged.
Top Glove and other glove makers fell sharply in early trade, triggered by the upliftment of the temporary suspension of regulated short selling (RSS) by the Securities Commission (SC) and Bursa Malaysia Bhd
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