Mechanical engineering company Every Glory United Holdings plans to give out 1 bonus share for every four held.
The mechanical and electrical engineering company says that the bonus issue is to "acknowledge and reward" shareholders, given how they will be receiving a lower cash dividend per share for FY2025.
"The proposed bonus Issue, if carried out, is also to encourage trading liquidity and greater participation by investors," the company says.
For FY2025, the company plans to pay a final dividend of 1 cent per share. The bonus share will not be entitled to the 1 cent per share to be paid.
Just on Feb 27, the company reported FY2025 earnings of $16.6 million, an increase of 85%. Revenue in the same period increased by 43% to $106.7 million.
It has built up an order book of $732.8 million.
CEO and executive director Xu Ruibing calls FY2025 "a transformative year" for Ever Glory.
“This set of results is merely the beginning. We're committed to leveraging this momentum to build an even stronger, more resilient organisation that will deliver substantially greater value to our stakeholders in the years to come," he says.
Every Glory shares closed at 76 cents on March 2, down 5.59% for the day amid broader market jitters over the widening fight in the Middle East.
