BToto to pay shareholders 75% of net earnings

BERJAYA Sports Toto Bhd (BToto) said yesterday it would adopt a general policy of distributing 75% of its net earnings to shareholders with effect from the financial year ending April 30, 2005.

The company said the policy was subject to various factors such as availability of distributable reserves and tax credits to frank the dividends, and its future cashflow requirements.

“The company has been rewarding shareholders with attractive dividends every year and we will continue to maintain a high dividend payout of at least 75% of net earnings going forward,” BToto chairman Tan Sri Thong Yaw Hong said in a statement.

Meanwhile, in an announcement to MSEB, BToto said it had achieved a strong growth in third-quarter revenue and pre-tax profit to RM660mil and RM122.7mil respectively, representing an increase of 23% and 14% from that in the previous corresponding quarter.

Revenue at its principal subsidiary, Sports Toto Malaysia Sdn Bhd, jumped 26%. – Bernama