General Announcement::MALAYSIA SMELTING CORPORATION BERHAD ("MSC" OR "the Company") - DIVIDEND POLICY

Issuer & Securities

Issuer/ Manager
MALAYSIA SMELTING CORP BHD 100
Securities
MALAYSIA SMELTING CORP BHD - MYL5916OO001 - NPW
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
15-Feb-2024 17:30:15
Status
New
Announcement Sub Title
MALAYSIA SMELTING CORPORATION BERHAD ("MSC" OR "the Company") - DIVIDEND POLICY
Announcement Reference
SG240215OTHR42L8
Submitted By (Co./ Ind. Name)
WONG YOUN KIM
Designation
COMPANY SECRETARY
Description (Please provide a detailed description of the event in the box below)
The Board of Directors of Malaysia Smelting Corporation Berhad ("MSC" Or "the Company") wishes to announce the adoption of a dividend policy of distributing at least 30% of its net profit attributable to the owners of the Company with effect from the financial year ended 31 December 2023 ("Dividend Policy").

The Company will endeavour to maintain the policy, subject to ongoing assessment depending on capital and cash flow requirements, market conditions, and other factors the Board of Directors (the "Board") of the Company deem relevant.

MSC has a track record of consistent dividend payments since the financial year ended 31 December 2016, demonstrating its commitment to shareholder value. The Dividend Policy aims to set a clear profit distribution to reward shareholders, and to enhance long-term shareholders confidence through consistent and reliable dividend payments.

Whilst the Dividend Policy reflects the Board's current views on the Company's financial and cash-flow position, the Dividend Policy shall be continuously reviewed from time to time.

The Dividend Policy has been uploaded onto the Company's website for public peruse.

This announcement is dated 15 February 2024.