Despite losing RM160m a month during MCO, Genting Malaysia declares five sen final dividend for FY19

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KUALA LUMPUR (June 22): Genting Malaysia Bhd (GENM), which lost at least RM160 million a month during the movement control order (MCO) period, continued to see dividends as its main way of rewarding shareholders.

While it did not directly commit to paying a dividend for the financial year ending Dec 31, 2020 (FY20) or FY21, in reply to this question received from shareholders prior to its virtually conducted annual general meeting (AGM), GENM chief financial officer Koh Poy Yong said: “The group will continue to balance the need to conserve funds with its desire to reward shareholders with dividends. Despite the challenging operating environment that we currently face, we will still proceed with the payment of the 2019 final dividend of five sen per share if approved by shareholders.”

Shareholders later approved the final dividend during the meeting.

GENM, which closed from March 31 to contain the Covid-19 outbreak, resumed gaming operations in Malaysia last Friday with lower capacity and social distancing rules in place.

The group also said it is keeping a tight watch on its operating cost even as it actively promotes the reopening of its services to members.

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