RH Petrogas Limited announced that the Company has adopted a dividend policy, which aims to balance the delivery of strong, sustainable returns to shareholders with the preservation of adequate liquidity and financial reserves to meet the Group's working capital requirements, whilst maintaining financial flexibility to deliver future growth. The Dividend Policy is reflective of the Board's intentions to steward the financial resources of the Company, as well as its commitment to financial discipline and the creation of value for its shareholders. In proposing any dividend distribution, the Board shall take into account: the level of cash and retained earnings of the Group; the current and projected financial performance of the Group; the future financial requirements of the Group, including the projected levels of capital expenditure, other investment plans (including strategic and opportunistic investments), and working capital requirements; the general business and financing conditions of the industry or jurisdictions in which the Group operates; any restrictions on payment of dividends imposed on the Group by the Group's financing arrangements (if any), the Companies Act 1967 of Singapore, the Listing Manual of the Singapore Exchange Securities Trading Limited, the Constitution of the Company and any applicable laws and regulations; and any other factors which the Board may deem relevant.
The Board may determine the frequency and amount of dividend payment, and dividend(s) may be in the form of cash (tax exempt one-tier), shares, distribution in-specie or any other form as the Board may determine. The Board will review the Dividend Policy periodically in line with the Group's evolving business strategy and market conditions, and may update, amend, modify and/or cancel the Dividend Policy at any time. The Dividend Policy shall in no way constitute a legally binding commitment by the Company in respect of its future dividends.
