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Supalai suspends dividend payments for 1 year

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Supalai suspends dividend payments for 1 year

Supalai PCL is suspending dividend payments for one year following a decision to raise 3.43 billion Thai baht of capital.

The company will need to raise 5.15 billion baht in capital should it decide to make a dividend payment of approximately 1.72 billion baht. It will have to raise more capital if it channels financial resources toward making dividend payments.

This capital increase is expected to support the company's sustainable growth by reducing the interest from loan and result in an increase in profits by at least 100 million baht per year, according to a filing.

Meanwhile, shareholders will be given an option of warrants at a rate of 4 ordinary shares per 1 warrant, which can be sold at no cost to compensate for dividends.

As of Aug. 8, US$1 was equivalent to 33.27 Thai baht.