KUALA LUMPUR (April 17): WCT Holdings Bhd proposed a share dividend on the basis of one treasury share for every 165 existing units to reward the construction firm's shareholders.

WCT told Bursa Malaysia today that it would fix the share dividend's entitlement date later. WCT said the share dividend was for financial year ended Dec 31, 2016.

Today, WCT said the share dividend was "subject to the shareholders' approval being obtained at the company's forthcoming sixth annual general meeting and that any fractions of the share dividend arising from the distribution of share dividend will be disregarded and dealt with at the discretion of the directors."

At 2:36pm, WCT shares rose five sen or 3% to RM2.01 for a market capitalisation of RM2.69 billion, based on an issued base of 1.36 billion shares. The stock saw 1.38 million units traded. —

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