My EG Services Berhad Annual Report 2020

ANNUAL REPORT 2020 201 FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS For The Financial Year Ended 31 December 2020 (CONT’D) 40. DIVIDENDS The Company 2020 2019 RM’000 RM’000 In respect of the financial period ended 30 September 2018: - a final dividend of 1.40 sen per ordinary share paid on 5 June 2019 - 48,781 In respect of the financial period ended 31 December 2019: - a first interim single tier dividend of 0.50 sen per ordinary share paid on 23 August 2019 - 17,421 - a final dividend of 2.0 sen per ordinary share, paid on5 November 2020 69,053 - In respect of the financial year ended 31 December 2020: - a first interim dividend of 0.50 sen per ordinary share, paid on 5 November 2020 17,263 - 86,316 66,202 On 6 August 2020, the shareholders of the Company approved the DRP to enable the Company’s efforts to enhance and maximise shareholders’ value. The DRP is part of the Company’s capital management plan in retaining capital for future expansion of the business. The Board of Directors have determined that the option to reinvest through the DRP shall apply to the entire portion of the final dividend of 2.0 sen per ordinary share for the financial period ended 31 December 2019 and 0.50 sen per ordinary share for the financial year ended 31 December 2020. During the financial year, the Company issued a total of 36,549,480 new ordinary shares pursuant to the DRP applicable to the final dividend of 2.0 sen per ordinary share of MYEG for the financial period ended 31 December 2019 (“1st DRP”) and 9,074,264 new ordinary shares pursuant to the DRP applicable to the first interim dividend of 0.50 sen per ordinary share of MYEG for the financial year ended 31 December 2020 (“2nd DRP”) at the price of RM1.28 per MYEG share which amounted to RM46,783,334 and RM11,615,058 respectively. At the forthcoming Annual General Meeting, a final dividend of 1.7 sen per ordinary share amounting to approximately RM62.42 million in respect of the current financial year will be proposed for shareholders’ approval. The financial statements for the current financial year do not reflect this proposed dividend. Such dividend, if approved by the shareholders, will be accounted for as a liability in the financial year ending 31 December 2021.