Raffles Medical granted in-principle approval for scrip dividend scheme

SINGAPORE: Raffles Medical Group has been granted in-principle approval for a proposed scrip dividend scheme.

The scheme will be subject to the approval of shareholders in a general meeting yet to be convened.

Raffles Medical said the scheme will provide the opportunity for shareholders to receive dividends in the form of shares instead of cash.

This will enable shareholders to participate in the equity capital of the company without incurring brokerage fees or stamp duty.

Raffles Medical said the company will also benefit as it will be able to retain cash that would otherwise have been spent in dividends.

It will use this cash to fund future growth. - CNA/vm