Eastern Holdings reports 94% plunge in H1 earnings but declares 13-cent dividend

Singapore

MEDIA and property company Eastern Holdings saw its net profit plummet 94.2 per cent for the first half ended Sept 30, 2014, but chose to declare a relatively hefty special dividend of 13 Singapore cents a share for the period.

The generous payout is the result of the company's decision to share the substantial investment gains it made on certain properties in the financial year ended March 31, 2014 - marking the first time Eastern Holdings has declared a dividend for several financial periods.