Asia Enterprises Holdings Ltd. Provides Earnings Guidance for the Fourth Quarter and Full Year Ended December 31, 2012; Proposes Final Dividend and Special Dividend for Fiscal 2012
The Group expects its financial performance for fiscal 2012 to remain profitable, albeit substantially lower than fiscal 2011 as a result of the weak operating environment during fiscal 2012.
For fiscal 2012, Asia Enterprises Holdings Ltd. recommends a final dividend equivalent to 40% of the full year earnings, a payout ratio that has been consistent for the past seven years. The group also plans to propose a special dividend for fiscal 2012 as Asia Enterprises marks its 40th year in the steel distribution business in 2013. As such, the proposed dividends for fiscal 2012 are expected to total 1.0 cent per share.