Barefoot Investor: Jerneh investors to get RM1.89 a share dividend

Jerneh Asia Bhd said late yesterday that it will make a RM1.89 a share bumper payment to its shareholders.

In a statement to Bursa Malaysia, Jerneh said the entitlement date for the dividend is on July 21.

The ex date for the exercise, meanwhile, falls two days earlier on July 19.

Jerneh, some 36.5 per cent owned by tycoon Robert Kuok Hock Hock Nien, said it will pay a final gross dividend of 8 sen minus tax, a gross special dividend of 21 sen minus tax, and special single-tier dividend of RM1.60 per share.

The company, however, did not mention anything on its plans for a capital repayment.

Previously, Jerneh had said that it will pay a dividend of between RM1.87 and RM2.52 a share, as well as make a capital repayment of about RM1.30 a share at a latter stage.

Business Times reported yesterday that Jerneh warrant holders were frantically converting their warrants into mother shares, at a conversion rate of RM1.60 a piece.

The warrant holders had to convert the shares into mother shares because they are not entitled to any dividend payout.

Since late May, more than 20.8 million warrants have been converted into mother shares. This represents almost one-third of the total issue size of 66 million Jerneh warrants.(Business Times)


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