KUALA LUMPUR (April 13): ECM Libra Financial Group Bhd has declared a special dividend of 15.97 sen per share totalling RM45.8 million.
In a filing with Bursa Malaysia today, ECM Libra said it will announce the special dividend's entitlement and payment dates soon.
The special dividend is based on the group's latest available audited consolidated net assets (NA) of RM145.6 million as at Dec 31, 2017 and after taking into consideration the expected gain of RM3.3 million from the proposed disposals.
On May 4 last year, the group had proposed to reward shareholders with a special dividend payout following the disposal of its non-core assets comprising part of Bangunan ECM Libra in Damansara Heights here and a semi-detached residential property for a combined RM28 million.
ECM Libra had then announced that it was selling the building to ECM Libra Foundation, a charitable organisation incorporated in 2004 by among others, Datuk Seri Kalimullah and Lim Kian Onn, being directors of ECM Libra. The building is partly occupied by ECM Libra, partly tenanted and partly vacant.
The payment of the special dividend will result in ECM Libra's audited consolidated NA as at Dec 31, 2017 to be adjusted to 36 sen per share.
As at 4.39pm, ECM Libra shares were up 5.5 sen or 11.7% at 52.5 sen, with 639,000 shares done, bringing a market capitalisation of RM136.13 million.