Newly-listed Yangzijiang Financial Holdings has revised its dividend policy of paying at least 30% of its earnings for the FY2022 to FY2024.
In an SGX announcement, the company, which was spun off from Yangzijiang Shipbuilding (Holdings), now plans to pay at least 40% of its earnings as dividends for the same three financial years.
YFH had earlier on May 23 announced it wants to seek shareholders’ mandate to buy back shares which as an NTA of $1.08 per share. It will do so at an EGM on June 8.
The company has seen its share price drop since it started trading at April 30 at 69.5 cents.
Board members including CEO Vincent Toe, and independent directors Chew Sutat and Chua Kim Leng had bought shares respectively from the market.
YFH closed May 30 at 48 cents, up 2.13% for the day.
