5th February 2014
This is to inform the shareholders of Dhiraagu PLC that, arising with the recent changes in the Dhiraagu financial year, the Board of Directors of Dhivehi Raajjeyge Gulhun Plc (the ‘Company’) has resolved on the 20th of January 2014 to approve a new Dividend Policy as follows:
i. The Company’s annual dividend will be paid in two tranches; an interim dividend after the announcement of 2nd Quarter (April to June) results and the final dividend after the end of the year and with Shareholder approval at the Annual General Meeting.
ii. The payment of any future dividends will be based on Profit after Tax (PAT), taking into account business prospects, future earnings, cash requirements and investment plans of the Company.
iii. The Company shall pay a minimum dividend payout of 50% of PAT, payable in cash and/or bonus shares. The dividend payment to majority foreign shareholders shall be in US Dollars.
iv. The final dividends will be based on full year audited and approved financial statements which the board will present for shareholder approval at the Annual General Meeting.
v. The Company may declare special dividends in accordance with this Dividend Policy, with prior approval of the Board.
Dhiraagu Investor Relations
Media contact for information:
Manager Investor Relations