KUALA LUMPUR (Oct 14): Tropicana Corp Bhd has declared a share dividend on the basis of 4.5 treasury shares for every 100 existing units to reward shareholders of the property developer.

In a statement to Bursa Malaysia yesterday, Tropicana said the interim single-tier share dividend is for financial year ending Dec 31, 2020. Tropicana said the share dividend's ex and entitlement dates will be on Oct 28 and 30 respectively.

"Subject to the approval of Bursa Malaysia Depository Sdn Bhd for the transfer of treasury shares under the share buy-back via bulk transfer method of debiting and crediting, the treasury shares to be distributed under the share dividend will be credited into the entitled depositor's securities account maintained with Bursa Malaysia Depository within ten (10) market days from the entitlement date,” Tropicana said.

At Bursa’s 12:30pm break today, Tropicana settled up 0.5 sen or 0.62% at 81.5 sen for a market value of about RM1.14 billion. The stock saw some four million shares traded.

Tropicana’s latest-reported net assets per share stood at RM3.27.

Tropicana directors include Top Glove Corp Bhd executive chairman Tan Sri Dr Lim Wee Chai.

According to Tropicana’s website, Lim is chairman and non-independent and non-executive director of the company.