The policy of the Company in respect of the payment of dividends is a matter to be determined by the Board in accordance with the principles outlined below:
The Company’s actual accumulated profits arising from the business of the Company in respect of each year after:-
- provision of working capital as determined by the Board;
- transfer to reserves as in the opinion of the Board ought reasonably to be made;
- service of all debts and full compliance with any financing agreements to which the Company is party at the relevant time of payment;
- taking into account the interests of the shareholders in minimizing taxation liabilities; and
- shall be distributed by the Company to the shareholders by way of dividend.
The Company has a policy of declaring dividends twice a year; in March and August.