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Wing Tai doubles dividend despite profit dive

Proposed full-year payout, which includes a special dividend, follows S$411m sale of half stake in Nouvel 18

Kalpana Rashiwala

Published Mon, Aug 22, 2016 · 09:50 PM

Singapore

DESPITE posting a big drop in fourth-quarter and full-year net profit, Wing Tai Holdings has proposed to double dividend payout to shareholders to six Singapore cents for the year ended June 30.

The payout, which includes a special dividend of three cents per share, is on the back of the group's recent S$411 million sale of its half-stake in the Nouvel 18 condo development - notwithstanding the fact that this has taken place after the close of the financial year. The sale was completed and Wing Tai received the proceeds in July.

Wing Tai's posted a…

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