(Sept 18): Shareholders of Micro-Mechanics (Holdings) are in for a windfall as the company is set to pay its biggest dividend yet, following a strong performance in 1HFY2017. The high-precision tool maker has proposed a final dividend of four cents a share and a special dividend of one cent a share. This brings total dividends for FY2017 ended June 30 to eight cents a share, compared with six cents a share in FY2016.
“The group benefited from the strong pickup in the semiconductor industry during the past six months to achieve record revenue and net profit in FY2017,” says Micro-Mechanics CEO Chris Borch in a statement dated Aug 28. “In line with our consistent practice of rewarding our shareholders for their continuous support, we are pleased to share the group’s better performance with them by paying higher dividends for FY2017.”