Early, higher Hume dividend likely

EARLIER and higher dividend. Based on our latest understanding, there is a good possibility that Hume Industries (Hume) (RM4.24) may be revising its dividend policy such that its first interim dividend will be declared in November for payment in December 2003, while the second interim dividend should be announced six months later - in May 2004 - for payment in the subsequent month. This is unlike the June 2003 financial year when Hume paid its first and second interim dividends within three months of each other - in March and June 2003. 

Under the new payment structure, shareholders can look forward to a more even stream of income over the financial year. This also means that in the transition year of June 2004, shareholders will be getting earlier payment of the first tranche dividend in December, which is just three months away.