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The Company is pleased to announce that the Board of Directors of GRAND-FLO (“the Board”) has recommended a final dividend of 1.2 sen per share comprising a gross dividend of 0.037 sen per share (less income tax at 25%) and a tax exempt dividend of 1.163 sen per share for the financial year ended 31 December 2011. The proposed dividend is subject to the approval of the shareholders of the Company at the forthcoming Annual General Meeting.
The entitlement and payment dates shall be finalised by the Company at a later date and announced in due course.
The dividend proposed is in line with the dividend policy adopted by the Company which aims to distribute to its shareholders a minimum of 20% of the Group’s net profits for each financial year.
Whilst the Board believes in rewarding the Company’s shareholders with steady returns on their investments and attracting potential long term investors, the Board is mindful that adequate working capital and reserves shall be set aside for capital investments and future potential growth, taking into consideration the global economic conditions.
This announcement is dated 17 April 2012.