Investor Relations - News
Special Dividend And Tax Rate
Special Dividend
On 3 May 2002, Metalock (Singapore) Limited (the "Company" or "Metalock") announced in their Full Year Results a proposed final dividend of 5% per ordinary share less tax for the financial year ended 31 March 2002.
The successful completion of the sale of marine repair services and trading and selling of marine spare parts and components businesses of MTQ Engineering Pte Ltd marks a significant milestone in the history of Metalock Group.
In a gesture to reward shareholders, the Board of Directors of the Company is pleased to recommend an additional Special Dividend of 5% per ordinary share, less tax for the financial year ended 31 March 2002, subject to shareholders' approval at the Company's Annual General Meeting.
The Special Dividend, if approved at the Annual General Meeting, will be paid at a date to be announced later.
Notice will be given at a later date on the closure of Share Transfers Books and Register of Members to determine shareholders' entitlements to the proposed Special Dividend.
Tax Rate
The Board of Directors wishes to confirm that the corporate tax rate relating to the Final Dividend and Special Dividend is 22% as per the Budget 2002 announcement made on 3 May 2002.