Special dividend fails to stop price drop

announced yesterday that it would be committing to a special dividend of 20%, in addition to its existing dividend policy of a 50% dividend payout ratio on profit after tax and minority interests for the second, third and fourth quarter of its 2021 financial year. At 5pm yesterday, Top Glove plunged 62 sen to RM5.50. It was also the most actively traded stock of the day.

PETALING JAYA: Shares of the world’s largest glove maker, Top Glove Corp Bhd, closed lower on the first trading day of the new year despite having committed to a special dividend on top of its existing dividend policy.

The company announced yesterday that it would be committing to a special dividend of 20%, in addition to its existing dividend policy of a 50% dividend payout ratio on profit after tax and minority interests for the second, third and fourth quarter of its 2021 financial year.