Lifestyle, entertainment, real estate and media company, Pulse Investments plans to pay its first dividend in two years in the coming weeks.
The company is proposing to pay a dividend of $0.005 per share, which is expected to be confirmed when its board of directors hold its next meeting on April 25, 2023.
The last time the board declared a dividend was in February 12, 2021 for the payment of $0.005 on April 7, 2021.
The notice of the intended payment of a dividend comes just days after the Kingsley Cooper-led main market listed company developed a new dividend policy from scratch.
The dividend policy is predicated on the company’s committed to providing an annual return to shareholders in the form of a dividend payment.
“Dividend paid will be in an amount that reflects the performance of the company in any given year, as well as the cash needs required for future company development,” the policy states.
According to the policy, “dividend shall be no less than 15 per cent of the cash portion of the company’s net profits for any given year, subject to the performance of the company.”
Dividend payments will also be subject to compliance with existing financial covenants related to any bond or other loans advanced to the company.