Kuala Lumpur, 19 October 2006
YTL CORPORATION BERHAD
YTL POWER INTERNATIONAL BERHAD
YTL Corporation Berhad (YTL Corp) today announced an Interim Dividend of 15% gross less Malaysian Income Tax for the financial year ending 30 June 2007. This interim cash dividend will boost net returns to shareholders to approximately 4.11% on the back of the 6 months weighted average share price of RM5.04 taking into consideration the First and Final Dividend of 15% gross less Malaysia Income Tax and the Proposed Restricted Offer for Sale of shares in its subsidiary company, YTL Power International Berhad (YTL Power) on the basis of 1 YTL Power share for every 10 existing ordinary shares held in the Company at the entitlement date to be determined at a price of RM1.00 per YTL Power share announced on 24 August 2006.
Its subsidiary company, YTL Power also announced today a distribution of treasury shares on the basis of 1 treasury share for every 25 shares held in YTL Power, further enhancing the net return to shareholders to approximately 7.43% based on the 6 months weighted average share price of RM2.13.
"I am pleased to announce that it is the Group's long term objective to create value for our long term shareholders by providing attractive yields on their investments as the earnings growth of its subsidiary companies over the years have strengthened considerably.
"Our shareholders of the Group may look forward to increased returns on investments as the interim cash dividend and distribution of treasury shares pave the way for better and more attractive dividend yields for shareholders of YTL Power International Bhd even more so for shareholders of YTL Corporation Bhd," said YTL Group Managing Director, Tan Sri Dato' (Dr) Francis Yeoh Sock Ping.
The book closure and payment dates for the interim dividend of 15% gross announced by YTL Corp will be 15 November 2006 and 4 December 2006 respectively whilst the book closure and distribution dates for the distribution of treasury shares by YTL Power will be announced at a later date.