KUALA LUMPUR: Axiata Group Bhd, which brought down its dividend payout ratio (DPR) to 50% for the year ended Dec 31, 2016 (FY16), sent a heads-up to shareholders yesterday that the lower dividend policy will be upheld in FY17. Axiata yesterday announced a DPR of 50%, or eight sen dividend per share, for FY16, from 85% or 20 sen for FY15. It was the lowest DPR for the group since FY10, when it declared 30% DPR or 10 sen payout per share. Celcom Axiata Bhd and 66.4%-owned PT XL Axiata Tbk in Indonesia contributed about 30% each of Axiata’s FY16 revenue. For FY17, Jamaludin said Axiata is aiming for up to 11% growth in revenue and up to 9% growth in earnings before interest, taxes, depreciation and amortisation.

Source: The Edge Markets February 24, 2017 01:14 UTC