Eco World International among top active stocks after declaring bumper dividend

• The counter gained 7.8% or five sen to 69 sen at time of writing, valuing the company at RM1.66 billion. 

KUALA LUMPUR (Aug 25): Eco World International Bhd (EWI) was among the five most active counters in the early session on Friday (Aug 25), as it saw 34.15 million shares changing hands, more than 23 times its average trading volume, after declaring its first interim dividend of 33 sen the day prior.

The counter gained 7.8% or five sen to 69 sen at time of writing, valuing the company at RM1.66 billion. 

On Thursday, EWI declared a first tranche dividend amounting to RM792 million, or 33 sen per share, for the financial year ending Oct 31, 2023 (FY2023), payable on Sept 23.

In a statement, EWI said the declaration of the first interim dividend follows the completion of the reduction of the issued share capital, which was announced on Aug 3. 

The company had then said that it was targeting to make a first tranche dividend distribution of at least RM300 million to shareholders, following completion of its capital reduction exercise. 

Notably, three of its largest shareholders are entitled to nearly 70% or RM550.76 million of the total dividend.

Its largest shareholder Datuk Leong Kok Wah, through his direct holdings, Eco World Capital (International) Sdn Bhd and Sinarmas Harta Sdn Bhd, owns some 728.73 million shares or a 30.3% stake in the real estate developer, entitling him to some RM240.48 million of the total dividend.

Tan Sri Quek Leng Chan, through GLL EWI (HK) Ltd, a unit of Singapore-listed Guocoland Ltd, owns a 27% stake or 648 million shares, giving rise to an entitlement of RM213.84 million from the total dividend payout of RM792 million.

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