Scrip dividend from Hotels Corp.

Ceylon Hotels Corporation (CHC) has announced to the Colombo Stock Exchange that it will be paying a scrip dividend worth Re. 1 per share XD from Sept. 28 and with payment on Oct. 9.

The dividend would be subject to tax and will involve the issue of 8.2 million new shares valued at Rs. 20 each in the proportion of one new share for every 20.94 shares held.

The issue is funded to a total of Rs. 171.8 million of which Rs. 94.7 million will come from dividend income and Rs. 77.1 million from current year profits, CHC said.

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