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VB Holdings Announces Second Interim Dividends This Year

VB Holdings Limited, a pioneer asset management company, has announced its second interim dividend to its shareholders of $0.07 cents per share. This was approved by the company’s Board for
14 Dec 2016 11:00
VB Holdings Announces Second Interim Dividends This Year
VB Holdings

VB Holdings Limited, a pioneer asset management company, has announced its second interim dividend to its shareholders of $0.07 cents per share.

This was approved by the company’s Board for the second half year ending November 2016.

In a statement yesterday, the public listed company said this would provide a total return of 4 per cent per annum on an annualised basis.

“VB Holdings Limited with its core business of fleet management and property management recorded revenue of $7million (unaudited) compared to $6.8m for the same period in the previous year,” the statement said.

“The financial results of the company for the year recorded a pre-tax profit of $1.4m (unaudited) compared to $1.6m for the previous corresponding year.”

In its property management, the company saw a reduction in rental income due to end of term vacancies of some property that have since been re-rented which will reflect in the next year.

VB Holdings Ltd has however stated that their fleet management division has been consistent throughout the year.

Company chairman Sundar Masih Sukhu said their board had pleasure in providing consistent returns to those that had invested in them.

“VB Holdings Limited has continued to provide reasonable dividends returns since the mid 90’s to our esteemed shareholders consistently,” he said.

“Those that have been patient have also seen capital returns from our listing price of $1.15 to currently $3.70 per share.”

This, the statement adds, is encouraging bringing the company’s market capitalisation to just under $8million.

Meanwhile, VB Holdings Limited has acknowledged their shareholders and customers for their continued support and confidence in them in their 15th year being listed on the South Pacific Stock Exchange.

Source: SOUTH PACIFIC STOCK EXCHANGE

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