The Board of Directors of IPB is pleased to anounce that the Company had adopted a dividend policy to pay annual dividends of a minimum of 80% of its PAT.  However, in determining the level of dividends to be paid, the Company will take into account various factors including:

(i)  the amount of the Company's available cash and cash equivalents;

(ii) the return on the Company's equity and retained earnings; and

(iii) the Company's projected expenditure and other investment plans.

This announcement is dated 24 August 2020.