SHANG

2.030

(%)

OTHERS RECLASSIFICATION OF PROPOSED FINAL DIVIDEND TO SECOND INTERIM DIVIDEND FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019

SHANGRI-LA HOTELS (MALAYSIA) BERHAD

Type Announcement
Subject OTHERS
Description
RECLASSIFICATION OF PROPOSED FINAL DIVIDEND TO SECOND INTERIM DIVIDEND FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2019

On 28 February 2020, Shangri-La Hotels (Malaysia) Berhad (“SHMB” or “the Company”) had announced its Unaudited Consolidated Results for the Fourth Quarter and Financial Year Ended 31 December 2019 (“FYE2019”), and that the Board of Directors had recommended a final single-tier dividend of 12 sen per share for FYE2019 (“the Proposed Final Dividend”), subject to the approval of shareholders at the forthcoming 49th Annual General Meeting (“49th AGM”) of the Company scheduled to be held on Friday, 29 May 2020.

 

Due to the heightened risks of the Covid-19 pandemic, the prolonged period of the Movement Control Order implemented by the Malaysian Government, as well as the overall uncertainty of this unprecedented crisis, the Board is of the view that it would be prudent to defer the 49th AGM to a date to be subsequently determined and announced.

 

The Board is aware that the deferment of the 49th AGM would create uncertainty over the payment date of the Proposed Final Dividend, which requires shareholders’ approval at the 49th AGM.

 

Therefore, the Board has resolved to reclassify the Proposed Final Dividend to a Second Interim Single-tier Dividend for FYE2019 (“Reclassification of Dividend”) at the same quantum of 12 sen per share.

 

The Board is of the view that the Reclassification of Dividend will not be prejudicial to the interest of SHMB’s shareholders.  Instead, the Reclassification of Dividend would be expedient to shareholders as it provides certainty of the dividend payment date, since the reclassified Second Interim Single-tier Dividend does not require shareholders’ approval.

 

Accordingly, the Second Interim Single-tier Dividend for FYE2019 will be paid on Thursday, 16 July 2020 to shareholders whose names appear on the Record of Depositors at the close of business on Thursday, 18 June 2020 (dates unchanged from earlier).

 

Please refer to our amended announcement dated 28 April 2020 relating thereto for further details.






Announcement Info

Company Name SHANGRI-LA HOTELS (MALAYSIA) BERHAD
Stock Name SHANG
Date Announced 28 Apr 2020
Category General Announcement for PLC
Reference Number GA1-21042020-00009