DigiPlus Interactive Corp. said its board has approved a dividend policy that requires for the listed leisure and gaming company to pay regular cash dividends “in the amount of 20 percent to 30 percent of the audited consolidated core net income for the year.”
The dividend declaration, however, DigiPlus said, must be approved by the board of directors who will consider the interest of the shareholders, the company’s debt covenants, and the requirements dictated by working capital, expansion plans, capital expenditures and debt servicing.
“To be clear, the latest audited financial statements shall be the basis for determining the net income,” DigiPlus said in a disclosure to the Philippine Stock Exchange.
“Payment of dividends shall always be subject to the availability of unrestricted retained earnings in accordance with the guidelines of the Securities and Exchange Commission. Further, the Company commits to pay dividends to its shareholders within 30 days from the date of its declaration,” it added.
DigiPlus was previously known as Leisure and Resorts World Corp.
