PETALING JAYA: Lotte Chemical Titan Holding Bhd, which achieved a net profit of RM1.06 billion for the financial year ended Dec 31, 2021 (FY21), yesterday declared a dividend of 21 sen per share, which translates into a total dividend payout of RM478.3 million payable on April 13, 2022.
The dividend represents a profit payout ratio of about 50% after deducting the one-off non-cash gain from LC USA’s partial disposal of equity interest in LACC LLC, which owns an ethane cracker in the United States. This dividend is consistent with its practice since its listing in 2017.
Lotte Chemical Titan said its total payout for FY21 – including the previous special dividend of 18 sen paid in November 2021 – will amount to 39 sen a share or a total of RM888.2 million, compared with the 3.27 sen it paid for FY20. This translates into a dividend yield of 18.6%.
Its president and CEO, Park Hyun Chul, said: “We will continue to reward our shareholders with dividend payment in-line with our performance for the period. We will focus on our growth and expansion in Indonesia through the Line project and bring value to our investors.”