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VB Holdings Provides Four Percent Return Per Annum To Shareholders

VB Holdings Limited has announced its first interim dividend for 2016, of $0.07 cents per share for the half year ending June 2016. This will provide a total return of
20 Aug 2016 08:11
VB Holdings Provides Four Percent Return Per Annum To Shareholders

VB Holdings Limited has announced its first interim dividend for 2016, of $0.07 cents per share for the half year ending June 2016.

This will provide a total return of four per cent per annum for shareholders on an annualised basis.

Furthermore, dividends from SPSE listed Companies are tax-free to shareholders.

VB Holdings Ltd is a pioneer asset management company, established in 1945.

Although a public company for nearly 70 years, the Company listed on the South Pacific Stock Exchange in 2001.

Chairman, S.M. Sukhu said: “It gives the Board pleasure to announce the 1st interim dividend of $0.07 cents per share to our esteemed shareholders.”

The Board approved the dividends based on the performance of the Company since its last balance sheet and due to continued growth in the economy and infrastructure developments taking place.

 

Financial Result

VB Holdings Ltd with its core business of Fleet Management and Property Management, recorded revenue of $3.7 million (Unaudited) compared to $3.8 million for the previous year.

The financial results of the Company for the 1st half year recorded a pre-tax profit of $0.58 million (Unaudited).

Profit after tax was $ 0.52 million (Unaudited), which is a decrease of 42% compared to previous year’s corresponding period results.

Property Management

With positive market conditions during the year, our property management division also showed marginal growth, as compared to the corresponding period last year.

 

Fleet Management

The Fleet Management Division contributed 95% (Unaudited) of the total business, there is a plateau in growth to the total business of the company during first half of the year as compared to last year.

 

Market Capitalisation

It is also encouraging to see with recent share price increase to an all-time high of $3.70, the market capitalization of the Company is now $7.9 million.

Mr Sukhu said: “We thank our shareholders and customers for their continued support and confidence in VB Holdings Ltd, in our 15th year since listing on the Stock Exchange and 70th year as a publically-owned company.

 

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