Lotte Chemical declares 13.98 sen special dividend for FY22

KUALA LUMPUR: Petrochemical producer Lotte Chemical Titan Holding Bhd has declared a special dividend of 13.98 sen per share for the financial year ending Dec 31, 2022 (FY2022), payable on Dec 29, 2022.

President and chief executive officer Park Hyun Chul said this will amount to a total dividend payout of RM318.4 million, translating to a dividend yield of 9.58 per cent based on the closing share price of RM1.46 on Nov 24, 2022.

"This special dividend is intended to reward our shareholders for their continued and unwavering support,” he said in a statement today.

Moving forward, Park said the company will continue to focus on its growth and expansion in Indonesia through the Lotte Chemical Indonesia new ethylene (LINE) project and bring value to its shareholders.

"It will serve as the key expansion drive for the company with the aim to further solidify its position as one of the largest petrochemical companies in the Southeast Asian region upon its completion in 2025,” he added. - Bernama

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