Article 37 of the Corporate Governance Code requires that the Board of Directors shall submit to the General Assembly a clear policy on Dividend Distribution.

This shall include the background and rationale of such policy in terms of the best interest of the Company and the shareholders. 

The payment of dividends is subject to the recommendation of the Board of Directors and approval by the Company’s shareholders.

Since becoming a Public Listed Company the company paid a Cash dividend of 40% plus 20% Bonus shares in 2007, and a 60% Cash dividend plus 10% Bonus shares in 2008

The declaration of dividends is discretionary and generally in line with market practice.  Any future dividend payments by the Company will depend on a number of factors including but not limited to the company’s operational performance, financial results, financial condition and prospects, as well as cash and liquidity requirements (including capital expenditure and investment plans) the market situation, legal regulatory and other such factors as the Board may deem relevant at the time.
 
The Company believes that the payment of dividends is an important element in creating shareholder value for its investors and subject to the above, it is the policy of the company at this time, which may be subject to changes in the future, to propose to the shareholders cash dividends generally in line with the market.