InnoTek declares 1 cent dividend on lower Q4 earnings

Singapore

FOLLOWING a request on Feb 1 to move a resolution to declare a 7.5 Singapore cent per share dividend by Gazelle Capital, which holds a 6.28 per cent stake in InnoTek Limited, the precision metal components manufacturer announced a dividend of one cent for fiscal 2017, double the dividend for the previous year.

Gazelle cited InnoTek's lack of intention to utilise excess funds, its financial position, an improved financial performance, the need to reward shareholders for their loyalty and increasing shareholder value as reasons for the proposed 7.5 ct dividend.