PETALING JAYA: Amidst the gloom and doom, consumer stocks continued to live up to their billing as among those with the best returns — either via cash payouts or dividends — as two companies in the sector rewarded their shareholders yesterday.
In separate announcements, DiGi.Com Bhd declared an interim single-tier tax-exempt dividend of 57 sen per share for the financial year ending Dec 31, 2008 while JT International Bhd (JTI) is proposing a capital repayment of 75 sen per share to be implemented via a capital reduction exercise.
Following the capital repayment, JTI, whose mainstay is the manufacturing of cigarettes, is looking to reduce the par value of its shares from RM1 to 25 sen each. JTI will have to fork out RM196.1 million, to be sourced from internally generated funds, for the exercise. It is the highest payout from the cigarette manufacturer in recent years.
As for DiGi, the latest dividend is lower than the 68.5 sen per share, less tax, given out for the corresponding period last year. The interim dividend will be paid on Aug 28.
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