State-owned Phnom Penh Water Supply Authority (PPWSA) has declared a dividend of 330 riel per ordinary share for the financial year ended December 31, 2022 (FY22), payable on June 20, with an ex-date of June 8.
The dividend totalling 28.7 billion riel (nearly $7 million), represents 26.5 percent of its FY22 net profit of 108.2 billion riel ($26.3 million), 16.3 percent lower from net profit of 129.3 billion in FY21.
According to its filing with Cambodia Securities Exchange yesterday, public shareholders would receive 3.98 percent of the payout, which amounts to 4.3 billion riel.
Meanwhile, dividend payment of 24.4 billion riel or 22.6 percent payout ratio to its largest shareholder, the Ministry of Economy and Finance (MEF), has been waived, a practice that has been in place since FY19.
In a letter dated August 9, 2021, MEF approved the exemption of dividend payment by PWSA to them until the financial year ending December 31, 2024, with resumption of payouts anticipated the following fiscal year, its 2022 annual report stated.
“Accordingly, the dividends recognised during the financial period are transferred to the remaining shareholders of PWSA, whilst the portion for MEF are transferred from retained earnings to the development reserve of PWSA directly,” it added.
The dividend per share of 330 riel for FY22 is the highest since PWSA’s listing in April 2012.
At close, the counter slipped 0.26 percent to 7,800 riel with 9,091 shares traded for a full market capitalisation of 678.4 billion riel ($165.2 million).