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Published: Thursday September 20, 2012 MYT 1:42:00 PM

Glenealy's dividend of 52.75 sen to go ex on Oct 3


KUALA LUMPUR: Glenealy Plantations (Malaya) Bhd's special single tier interim dividend of 52.75 sen per share will go ex on Oct 3.

It said on Thursday that the payment date would be on Oct 5. The dividend is for the year ended June 30, 2012.

The board had declared the special dividend, which many read as a sweetener to the buyout deal by Samling Global Ltd.

Including another 8.5 sen per share that was declared to shareholders this year, Glenealy is paying a total of RM68mil to shareholders, a figure which the company said was its highest in 15 years.

The special dividend was to appease minority shareholders opposing the privatization.

At a court-convened meeting on Sept 13, about 85.31% of non-interested shareholders who turned up had voted in favour of the privatisation scheme.

Glenealy said these votes made up 94.17% in value terms of the non-interested shareholders who turned up to vote. A mere 4.23% (in value terms) voted against the resolution.

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