In results released on Monday before market open, Vicplas directors proposed a final dividend of 0.375 Singapore cent per share for FY20.
The group on Monday noted that although its profit after tax for FY20 improved year on year, that was thanks to non-recurring negative goodwill as well as Covid-19 related subsidies from governments to mitigate the coronavirus pandemic's impact. Such subsidies are likely to be of a lower quantum in FY21, Vicplas said.
This takes into account the challenging operating environment and outlook for FY21, the group's working capital and cash flow requirements, and the need to preserve financial capacity to prepare for expected capital expenditure relating to the establishment or acquisition of a fifth plant for the medical devices segment, Vicplas said.
If approved by shareholders at the Nov 26, 2020 annual general meeting, the final dividend of 0.375 cent per share for FY20 will be paid on Jan 15, 2021, after books closure on Jan 6, 2021.
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