Combine Will, MindChamps dividend payments delayed

Vivienne Tay
Published Wed, May 22, 2019 · 12:37 AM
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COMBINE Will International and MindChamps both said late on Tuesday night that dividend payments to members with securities accounts with The Central Depository (CDP) has been delayed.

Both companies were originally supposed to make the payments on May 21.

Mainboard-listed Combine Will's fiscal 2018 dividend payout of S$0.05 was delayed due to a longer than usual clearance process in connection with the remittance of funds from Hong Kong. This resulted in an unexpected delay in the final remittance of funds to Singapore.

The funds required have since been credited to CDP for processing and is scheduled to be paid on Wednesday, Combine Will said, adding it "sincerely apologises for the delay and any inconvenience caused".

Preschool operator MindChamps also experienced an unforeseen delay with the intervening public holidays resulting in the processing of the dividend payments on May 21 instead of May 17. The dividend payment of 1.34 Singapore cents per share is expected to be made to CDP members no later than May 23, it said.

Combine Will shares closed at S$1.00 on Tuesday, down two Singapore cents or 1.96 per cent, while MindChamps shares closed at S$0.66 on Tuesday, down 0.5 Singapore cent or 0.75 per cent.

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