Although Boustead has no formal dividend policy, we have a tradition of paying dividends linked to long-term net profit growth.  Since resuming our annual payment of dividends in FY2003, we have achieved respectable growth in dividends over the past nine years, with a compounded annual growth rate of 28% over that period.

Our history of annual dividend payments includes:

• Nine consecutive years of dividend payments;
• Maintaining an ordinary dividend of 4 cents per share in each of the past four years from FY2009 to FY2011; and
• Paying a total of 28.75 cents in cash dividends over nine consecutive years, equivalent to 169% of the purchase price of the Boustead share at 17 cents at the beginning of FY2003.

The Board makes an informed decision on proposing the payment of dividends based on its evaluation of:

• The operating cash requirements of the Group;
• Acquisition and project investment opportunities; and
• The global business environment in general.