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
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.
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