DXN non-independent executive chairman and founder Datuk Lim Siow Jin
PETALING JAYA: DXN Holdings Bhd has committed to adopting a dividend policy of at least 50% of its audited consolidated profit after taxation and minority interest (Patami) commencing immediately.
Previously, the global health-oriented and wellness direct-selling company had adopted a policy to payout 30-50% of Patami.
“DXN has revised its policy such that dividends will be distributed on a quarterly basis. As of today, the total dividend payout and declared for FYE2024 is RM104.7mil which is equivalent to a payout ratio of 68.2% of Patmi,” it said in a statement.
ALSO READ: DXN posts slightly higher net profit of RM76.02mil in 2Q
In the second quarter ended Aug 31, DXN posted a net profit of RM76.02mil, a marginal increase from RM75.8mil a year ago.
Revenue rose to RM458.3mil from RM396.2mil while earnings per share stood at 1.52 sen against 1.57 sen previously.
For the first six months, DXN posted a net profit of RM153.6mil on revenue of RM882.3mil.
Non-independent executive chairman and founder Datuk Lim Siow Jin said: “We have decided to increase our dividend payout ratio from 30% to 50% of our Patami to paying out at least 50% of our Patami. This change reflects our confidence in DXN’s financial strength and the opportunities ahead.”
DXN has declared a second interim dividend of 0.90 sen per ordinary share on 4.99 billion ordinary shares, amounting to RM44.9mil, to be paid on Nov 30.
At 10.25, DXN rose 1.5 sen, or 1.59% to 64 sen.
