Hap Seng Plantations revises dividend policy to approximately 60%

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KUALA LUMPUR (April 10): Hap Seng Plantations Holdings Bhd has announced a revision to its dividend policy to approximately 60% of its net profit.

Previously, its policy stated dividend payment of up to 60% of its net profit.

The dividend payment depends on its level of cash, gearing, return on equity, retained earnings, expected results of operations, projected levels of capital expenditure, as well as investment plans and working capital requirements, it said in a Bursa Malaysia filing today.

Hap Seng Plantations closed unchanged at RM2.44 today, giving it a market capitalisation of RM1.95 billion.