Apac Realty Proposes 1 5 Bonus Issues Celebrates Eight Years Listing Mainboard
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APAC Realty has announced its intention to reward shareholders by proposing a 1-for-5 bonus issue of new ordinary shares. This move is part of the company’s celebration of its eighth year of listing on the SGX Mainboard. If approved, entitled shareholders will receive one fully paid bonus share for every five ordinary shares they hold.
According to APAC Realty, this proposed bonus issue will not only benefit shareholders, but also enhance the trading liquidity of the company’s shares. Assuming the bonus issue application is submitted on Sept 8, the theoretical ex-bonus price of the shares would be 52.23 cents, based on the lowest daily weighted average price in the preceding month of 62.68 cents.
In addition to the bonus issue, APAC Realty has also reported a strong set of first half results for FY2021. Its revenue increased by 28.8% year-on-year to $341.5 million, driven by robust brokerage income from new home sales. Its earnings also doubled to $11.3 million, thanks to higher transaction volumes in the residential market.
Over the past eight years, APAC Realty has an average dividend payout ratio of 78.7% and has declared more than $124.6 million in dividends. This translates to an annualised dividend yield of 11.5% for the first half of FY2021.
As the exclusive ERA regional master franchise rights holder for 17 countries and territories in Asia Pacific, APAC Realty is well-positioned to further expand its business. It currently has over 21,600 advisors across 573 offices in 13 countries as of June 30, through its ERA franchisee network. The company is confident in its growth prospects and is committed to creating value for its shareholders.