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Modern Land logs per-share dividend of 2.3 Hong Kong cents for H1'17

Modern Land (China) Co. Ltd. announced an interim dividend of 2.3 Hong Kong cents per share for the first half of 2017, which it will pay out on or about Oct. 9 to shareholders on record as at Sept. 26.

The company had suspended interim dividend payments for the same period in 2016.

The interim dividend for the six months ended June 30 totaled HK$57.6 million.

Additionally, Modern Land's board is proposing a bonus share issue program, which will result in the issue of one bonus share for every 10 shares held by shareholders on record as at Sept. 26. The company's board will put the bonus share program resolution to a vote at its upcoming extraordinary general meeting scheduled to be held Sept. 18.

If the resolution passes and other conditions are met, the company will release share certificates for the bonus shares on or about Oct. 9, according to its earnings release.

Previously, Modern Land paid out within the first half a final dividend of 6.3 cents per share for the 12 months ended Dec. 31, 2016, down from the 9.9 cents per-share dividend paid out for the year-ago period.