Heeton proposes to cut FY2019 final dividend to 0.3 S cent

PROPERTY developer Heeton Holdings is looking to cut its final dividend for the financial year ended Dec 31, 2019 to 0.3 Singapore cent per share, from the 0.45 cent previously proposed.

In a regulatory update on Monday, Heeton said that financial uncertainty amid the Covid-19 situation is expected to continue, prompting the need to conserve resources in order to meet anticipated business challenges.

The travel and real estate industries - which the group is heavily invested in - have not been spared from the severe impact of the novel coronavirus on the global economy, it added. 

The proposed reduced final dividend of 0.3 Singapore cent will be tabled at Heeton's annual general meeting on June 19, to be held via live webcast or audio-only teleconferencing.

Shares of mainboard-listed Heeton were trading flat at 22.5 Singapore cents as at 10.06am on Monday.