Faber is a dividend paying company for the last 5 years and recently, did declare an increased dividend rate of 8 per cent for financial year ending December 31 2010.
"We hope that the accumulated losses will be wiped out by this year and from this (move), to see a better future dividend payout," managing director Adnan Mohammad told reporters at a press conference after its annual general meeting and an extraordinary general meetings here yesterday.
Faber has accumulated some RM422 million losses over the years.
"We hope that the accumulated losses will be wiped out by this year and from this (move), to see a better future dividend payout," managing director Adnan Mohammad told reporters at a press conference after its annual general meeting and an extraordinary general meetings here yesterday.
Faber has accumulated some RM422 million losses over the years.
Adnan said that looking at the past five years' trend, it had declared dividends of 2 per cent, 3 per cent, 4 per cent, 6 per cent and now 8 per cent and it would like to see this trend continue.
The dividend quantum would also depend on the group's performance, he added.
Yesterday, Faber obtained shareholders' approval to reduce the par value of its shares and for a share premium reduction.
The former will see it reduce its issued and paid-up share capital to RM90.75 million comprising 363 million shares of 25 sen each from RM363 million of RM1 share each.
The share premium account will be reduced by RM115.98 million.
Meanwhile, Adnan reiterated that he was positive it would get a further concession for the government hospital support services.
He hopes that it will encompass the same area, services as well as the duration.
Faber has a 15-year concession from the government that will end on October 28 2011.
The dividend quantum would also depend on the group's performance, he added.
Yesterday, Faber obtained shareholders' approval to reduce the par value of its shares and for a share premium reduction.
The former will see it reduce its issued and paid-up share capital to RM90.75 million comprising 363 million shares of 25 sen each from RM363 million of RM1 share each.
The share premium account will be reduced by RM115.98 million.
Meanwhile, Adnan reiterated that he was positive it would get a further concession for the government hospital support services.
He hopes that it will encompass the same area, services as well as the duration.
Faber has a 15-year concession from the government that will end on October 28 2011.
Looking at potential and fundametals, Faber Group looks good as a 'hold'.
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