|
|
| Investor information |
| |
Highlights |
• JKH share performance during the year 2007/08
The JKH share price fell 22.7 per cent during the year 2007/08, against a fall of 17.1 per cent in the blue chip Milanka Price Index (MPI). Lower trading volumes compared to 2006/07 of the JKH share was a key factor in the share underperforming the Colombo Stock Exchange (CSE). The drop in the share price resulted in a negative TSR of 19.5 per cent in the current year.
• Optimising the capital structure
IFC, a member of the World Bank Group, extended a long term corporate investment facility of USD 75 million on a floating rate basis to support JKH's expansion in key business areas in Sri Lanka and other countries in the region.
• Continued belief in financial position and financial performance
JKH retained its rating of AAA (Sri) assigned by Fitch Ratings Lanka Limited on account of the continued strength of its balance sheet and strong business fundamentals.
• Expansion of business portfolio
In April 2008, JKH announced an investment of USD 5.72 million for a 44 per cent equity stake in Quatrro Finance & Accounting Solutions. Quatrro F&A is the India based Financial and Accounting (F&A) business of the Quatrro group. Quatrro F&A recently acquired the Chicago based Financial
Process Outsourcing LLC in a structured financing transaction
The group also invested in John Keells Foods India Private Limited, a company incorporated in India to manufacture and market processed meats to the growing Indian market.
The group entered in to an MOU with its associate, Associated Motorways (AMW), and Finlays Colombo to jointly develop a contiguous 6.6 acre block of land with access from Union Place and Vauxhall street.
• Continuous reevaluation of business portfolio
In March 2008, JKH announced the sale of its Systems Integration business with the divestment of Keells Business Systems.
• Highest market capitalisation of shares in free float
Despite the correction in the share price, JKH has the highest market capitalisation of shares in free float of Rs. 56.79 billion, reflecting the relatively higher liquidity of the JKH share.
• Recognition for superior performance
JKH was voted as the most respected entity In Sri Lanka by LMD for the third consecutive year since the ranking's inception in 2005. JKH was ranked number 1 in the areas of management profile,quality consciousness, honesty, work environment, vision, CSR and national mindedness.
JKH was recognised as the best Corporate Citizen in Sri Lanka at the Ten Best Corporate Citizens Award 2007 organised by Ceylon Chamber of Commerce.
The JKH annual report of 2006/07 won the Gold award for corporate governance and was adjudged one of the joint runners up in the “Overall Winner” category by the Institute of Chartered Accountants of Sri Lanka.
The JKH annual report of 2006/07 also won the Gold award for corporate governance disclosure by the South Asia Federation of Accountants. |
| |
The JKH share |
The Colombo Stock Exchange (CSE) experienced negative growth in 2007/08, compared to the positive growth in 2006/07, due to declining investor confidence as a result of an escalation of the North East conflict and higher interest rates. The All Share Price Index (ASPI) fell by 8.6 per cent to 2,550 points, whilst the MPI fell by 17.1 per cent to 3,181 points by 31st March 2008.
The JKH share fell 22.7 per cent to Rs. 119.75 as at 31st March 2008 compared with a closing price of Rs. 155.00 at the end of the previous year. The JKH share traded between a low of Rs. 116.25 and a high of Rs. 156.75 during the year under review. Generally depressed market conditions, coupled with lower trading volumes of the JKH share, as seen in the annualised share turn ratio, were the key reasons for the fall in the JKH share price. However, it is pertinent to note that the composition of shareholders changed during the year under review, with the shareholding of nonresident investors increasing to 49.9 per cent from 43.1 per cent in the previous year, as a result of greater foreign institutional investor interest.
During the initial months of the financial year under review, the JKH share performance was largely in line with the market. However, relatively lower trading volumes of the JKH share beginning from September ‘07 through to the end of the financial year affected the JKH share price. Conversely, sustained margin trading on midcap companies' shares and the occasional heavy trading on shares of large companies helped to maintain CSE's performance at levels higher than that of JKH. |
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|
| |
The JKH share has been a solid long term value creator and
is expected to remain so. As illustrated in the following graph,
the JKH share has outperformed the ASPI and blue-chip
MPI consistently over the last five years. Despite the fall in
the share price during the current year, the JKH share has
recorded a compound annual growth rate of 32.5 per cent
over the last five years, outperforming the ASPI, MPI and
DSI, which recorded compound annual growth rates of 28.1
per cent, 20.4 per cent and 31.3 per cent respectively.
The performance of equity markets across the globe was affected negatively due to a move away from higher risk asset
classes. Due to the escalation of the conflict in Sri Lanka, the CSE and the JKH share underperformed regional stock
exchanges such as the Sensex Index of the Mumbai Stock Exchange (BSESN), the Straits Times Index of Singapore (SGX) and the Kuala Lumpur Stock Exchange (KLSE)
during the year under review.
|
 |
| |
| Over a period of 5 years, the JKH share has outperformed regional stock markets such as Singapore and Kuala Lumpur, with a compound annual growth rate of 32.5 per cent compared with SGX's STI index growth of 18.9 per cent and KLSE's growth of 14.4 per cent. The JKH share has however, underperformed theMumbai Stock Exchange over the 5-year period. This was mainly due to the rally in September 2007 in Indian equities. |
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 |
| |
 |
| |
Issued share capital |
The new Companies Act, which came into effect on 3rd May 2007, requires companies to present the previous share capital, share premium and preference share capital as one “stated capital” account. This account will reflect the total amounts received by the company, or due and payable to the company, in the respect of the issue of shares and the call of shares.
The total number of shares in issue at the beginning of the financial year was 552.94 million. During the financial year,
a total of 83.05 million shares were allotted, with 78.96 million shares originating from a 1:7 scrip issue and 4.09 million shares arising out of the exercise of employee share options (ESOPs), resulting in the number of shares in issue |
| |
| Market information on ordinary shares of the company |
|
2007/08 |
Q4 |
Q3 |
Q2 |
Q1 |
2006/07 |
| Share information |
|
|
|
|
|
|
| Highest price (Rs.) |
156.75 |
128.00 |
134.00 |
146.00 |
156.75 |
183.25 |
| Lowest price (Rs.) |
116.25 |
116.25 |
125.50 |
125.75 |
143.00 |
96.97 |
| As at period end (Rs.) |
119.75 |
119.75 |
128.00 |
129.00 |
145.50 |
155.00 |
| Dividends paid (per share) |
5.00 |
1.00 |
3.00 |
- |
1.00 |
3.00 |
Trading statistics |
|
|
|
|
|
|
| Number of transactions |
9,048 |
2,701 |
2,748 |
2,088 |
1,511 |
17,449 |
| Number of shares traded (thousands) |
104,754 |
16,814 |
20,795 |
38,395 |
28,751 |
117,968 |
| % of total shares in issue |
16.5 |
2.6 |
3.3 |
6.0 |
4.5 |
21.30 |
| Value of all shares traded (Rs. mn) |
13,930 |
2,028 |
2,695 |
4,957 |
4,249 |
20,112 |
| Average daily turnover (Rs. mn) |
58.3 |
35.6 |
43.5 |
78.7 |
74.5 |
83.8 |
| % of total market turnover |
16.1 |
9.9 |
10.7 |
26.3 |
19.3 |
17.1 |
| Market capitalisation (Rs.’000) |
76,160 |
76,160 |
81,407 |
82,043 |
92,537 |
97,945 |
| % of total market capitalisation |
9.2 |
9.2 |
9.9 |
10.0 |
11.2 |
11.1 |
| |
|
|
|
|
|
|
|
| |
increasing to 635.99 million. The 1:7 scrip issue, which was declared on 13th March 2007, was allotted during the financial year 2007/08. In addition to the shares in issue, there are a further 34.86 million shares equivalent of unexercised ESOPs as at 31st March 2008. These are eligible for immediate exercise as at the date of this report.
The balance of global depositary receipts (GDRs), in ordinary share equivalents, increased to 1.11 million as at the end of the year from 0.97 million at the beginning of the year due to allotment of the scrip issue discussed above. |
| |
Dividends |
| The dividend policy of JKH seeks to ensure a dividend payout which correlates with the growth in profits, whilst ensuring that the company retains adequate funds to support investments which facilitate the creation of sustainable shareholder value in the short, medium and long term. |
| |
|
| |
| During the year, the company has declared, and paid, two interim dividends of Rs. 1 per share each and a oneoff special dividend of Rs. 2 per share. The special dividend was made to reward the shareholders based on improved profits after tax of the company during the current financial year on account of a higher dividend income, interest income in a high interest rate environment and various cost saving measures. The company also announced a final dividend of |
| |
| EMPLOYEE SHARE OPTION PLAN AS AT 31ST MARCH 2008 |
| |
| |
Date of
grant |
Shares
granted |
Expiry
date |
Option
grantprice |
Shares**
adjusted |
Exercised |
Lapsed/
cancelled |
Outstanding |
Current
price ** |
| PLAN 2 |
|
|
|
|
|
|
|
|
|
| Award 2 |
12.11.2002 |
3,728,580 |
11.11.2007 |
76.00 |
6,810,320 |
6,679,392 |
130,928 |
- |
- |
| Award 3 |
23.01.2004 |
2,994,209 |
22.01.2009 |
104.25 |
5,129,406 |
2,051,778 |
115,605 |
2,962,023 |
70.81 |
|
|
6,722,789 |
|
|
11,939,726 |
8,731,170 |
246,533 |
2,962,023 |
|
| PLAN 3 |
|
|
|
|
|
|
|
|
|
| Award 1 |
29.03.2005 |
5,503,850 |
28.03.2010 |
136.00 |
9,746,823 |
2,247,494 |
387,905 |
7,111,424 |
92.72 |
| Award 2 |
10.04.2006 |
6,645,575 |
09.04.2011 |
157.25 |
10,301,859 |
502,319 |
519,046 |
9,280,494 |
120.74 |
| Award 3 |
28.05.2007 |
10,551,062 |
27.05.2012 |
146.00 |
10,551,062 |
- |
448,520 |
10,102,542 |
146.00 |
|
|
22,700,487 |
|
|
30,599,744 |
2,749,813 |
1,355,471 |
26,494,460 |
|
| PLAN 4 |
|
|
|
|
|
|
|
|
|
|
25.03.2008 |
5,405,945 |
24.03.2013 |
120.00 |
5,405,945 |
|
|
5,405,945 |
120.00 |
| Total |
|
34,829,221 |
|
|
47,945,415 |
11,480,983 |
1,602,004 |
34,862,428 |
|
|
|
| |
| ** Adjusted for bonus issues and right issues |
| |
| Key ratios |
|
2007/08 |
2006/07 |
2005/06 |
| Market capitalisation (Rs. mn) |
76,160 |
97,945 |
63,101 |
| EV/EBITDA (times) |
7.8 |
13.0 |
10.7 |
| Diluted earnings per share (Rs.) |
8.00 |
6.04 |
5.30 |
| PER (diluted) |
15.0 |
25.6 |
21.4 |
| Price to book (times) |
1.7 |
2.3 |
2.9 |
| Price/cash earnings |
12.6 |
20.7 |
17.1 |
| Dividend yield (%) |
4.2 |
2.3 |
3.0 |
| Total shareholder returns |
(19.50) |
39.7 |
43.9 |
| Market value added (Rs. mn) |
31,942 |
58,709 |
40,300 |
| Dividend payout ratio (%) |
81.0 |
62.8 |
65.8 |
| |
|
|
|
|
| |
Rs. 1 per share based in the profits of the financial year 2007/08 for payment on 27th June 2008. Accordingly, the dividend per share (DPS) in the current year increased to Rs. 5 per share compared with Rs. 3 per share in the previous year.
The dividend payout ratio increased to 81 per cent compared to 63 per cent the previous year, primarily due to the special dividend of Rs. 2 per share. In absolute terms, the dividend paid and payable out of 2007/08 profits will be Rs. 3.18 billion compared to the dividend of Rs. 1.41 billion in the previous year. |
| |
Earnings per share |
| The fully diluted earnings per share (EPS) for the period grew 32 per cent from Rs. 6.04 to Rs. 8.00. The cash EPS increased 27 per cent from Rs. 7.50 to Rs. 9.54 in the current year. |
| |
Total shareholder returns |
| The total shareholder returns (TSR) of the JKH share was a negative 19.5 per cent as a result of the 22.7 per cent fall in the JKH share price during the year, offset by a higher DPS. The average 1year T/bill rate for the same period was 17.6 per cent. Even though the TSR on the JKH share yielded negative returns, the JKH share has consistently outperformed the 1year T/bill yield in the past. |
| |
Capital productivity
|
| Profits attributable to equity holders for the year under review increased by 45 per cent to Rs. 5.12 billion compared with Rs. 3.53 billion in the previous year. As a result, the return on equity (ROE) increased to 12.3 per cent in 2007/08, compared with 11.4 per cent in the previous year. Return on capital employed (ROCE) increased marginally to 13.7 per cent from 13.6 per cent in the previous year. Further discussion on ROE and ROCE can be found in the consolidated group performance section of this report. |
| |
 |
| |
Market capitalisation and entercprise value |
| Total market capitalisation as at 31st March 2008 was Rs. 76.16 billion, recording a drop of 22 per cent from the market capitalisation of Rs. 97.94 billion at the beginning of the year. The enterprise value as at 31st March 2008 dropped 21 per cent to Rs. 76.18 billion as a result of the drop in the market capitalisation. |
| |
Price earnings ratio |
| The price earnings ratio (PER) as at 31st March 2008 was 15.0 times compared with 25.6 times the previous year as a result of a lower share price and a higher EPS. The JKH PER still remains attractive against the market PER of 10.4 times as at 31st March 2008 as published by the CSE. |
| |
Price to book |
| As at 31st March 2008, the price to book ratio of the group
was 1.7 times, compared with 2.3 times and 2.9 times in the
last two years. The drop in the year was due to the drop in
market value of JKH. |
| |
 |
 |
Liquidity |
• Average daily turnover of the JKH share was Rs. 58.3 million compared to a Rs. 362.3 million average daily turnover recorded by the CSE.
• Liquidity of the JKH share marginally decreased to 16.1 per cent of the total market turnover, compared with 17.1 per cent recorded in the previous year.
• Total volumes of JKH shares traded during the year dropped to 104.8 million shares from the 118.0 million shares recorded in the previous year.
• The annualised share turn ratio decreased significantly to 0.18 from 0.25, reflecting the lower trading volumes of the share.
• The free float of the shares as at 31st March 2008 was 74.6 per cent compared to the 70.8 per cent at the end of last year. |
| |
Distribution and composition of shareholders |
• The total number of shareholders of JKH dropped to 8,475 from the 8,926 seen last year, as the shareholders list was merged during the year to avoid duplication of records.
• Distribution 3 per cent of shareholders held 95 per cent of the total shares, averaging 2.3 million shares per shareholder while, 97 per cent of shareholders held 5 per cent of the total shares at an average of 3,921 shares per shareholder.
• Composition 74.6 per cent of the shares in issue were held by public, while 25.4 per cent of the shares were held by the directors, executives and connected parties as at 31st March 2008. Subsequent to the resignation of Mr R S Captain from the Board of Directors of JKH with effect from 6th May 2008, the latter figure came down to 5.9 per cent.
• Domicility 50.1 per cent of shares were held by residents and 49.9 per cent was held by non residents. |
| |
|
| |
Shareholder information |
• The issued ordinary shares of JKH are listed on the Colombo Stock Exchange (CSE)
• CSE ticker symbol for John Keells Holdings PLC shares: JKH.N0000
• Newswire codes:
Bloomberg: JKH.SL
Dow Jones: P.JKH
Reuters: JKH.CM |
| |
| Distribution of shareholders |
| |
|
31 March 2008 |
|
31 March 2007 |
|
|
Number of
shareholders |
% |
Number of shareholders |
% |
Number of
shareholders |
% |
Number of
shareholders |
% |
| Less than or equal to 1,000 |
5,151 |
60.78 |
1,229,290 |
0.19 |
5,608 |
62.83 |
1,173,369 |
0.21 |
| 1,001 to 5,000 |
1,717 |
20.26 |
4,123,286 |
0.65 |
1,780 |
19.94 |
4,206,227 |
0.76 |
| 5,001 to 10,000 |
477 |
5.63 |
3,380,914 |
0.53 |
506 |
5.67 |
3,672,648 |
0.66 |
| 10,001 to 50,000 |
747 |
8.81 |
15,525,960 |
2.44 |
669 |
7.49 |
13,948,910 |
2.52 |
| 50,001 to 100,000 |
115 |
1.36 |
7,916,985 |
1.24 |
117 |
1.31 |
7,989,449 |
1.44 |
| 100,001 to 500,000 |
144 |
1.70 |
33,511,546 |
5.27 |
126 |
1.41 |
27,920,015 |
5.05 |
| 500,001 to 1,000,000 |
31 |
0.37 |
23,687,289 |
3.72 |
34 |
0.38 |
24,880,442 |
4.50 |
| Over 1,000,001 |
93 |
1.10 |
546,619,292 |
85.95 |
86 |
0.96 |
469,148,927 |
84.85 |
| Grand total |
8,475 |
100.00 |
635,994,562 |
100.00 |
8,926 |
100.00 |
552,939,987 |
100.00 |
| |
|
|
|
|
|
|
|
|
|
| |
Composition of shareholders |
| |
|
31 March 2008 |
31 March 2007 |
|
Number of
shareholders |
% |
Number of shareholders |
% |
Number of
shareholders |
% |
| Executive directors and spouses |
6 |
8,598,117 |
1.35 |
6 |
7,845,938 |
1.42 |
| Non-executive directors and connected parties* |
12 |
124,274,250 |
19.54 |
12 |
124,823,768 |
22.57 |
| Executives and connected parties |
123 |
28,901,205 |
4.54 |
160 |
28,626,702 |
5.18 |
| Public resident |
|
|
|
|
|
|
| Institution |
560 |
73,491,771 |
11.56 |
603 |
74,421,962 |
13.10 |
| Individual |
7,499 |
83,323,494 |
13.10 |
7,836 |
80,680,833 |
14.59 |
| Public non resident |
|
|
|
|
|
|
| Individual |
97 |
248,498,728 |
39.07 |
90 |
169,839,120 |
30.72 |
| Institution |
177 |
67,794,301 |
10.66 |
218 |
67,728,063 |
12.25 |
| Global depository receipts |
1 |
1,112,686 |
0.17 |
1 |
973,601 |
0.17 |
| Shareholders holding more than 10% |
- |
- |
- |
- |
- |
- |
| Total |
8,475 |
635,994,552 |
100.00 |
8,926 |
552,939,987 |
100.00 |
| |
|
|
|
|
|
|
|
| |
| * Subsequent to the resignation of Mr R S Captain on 6th May 2008, the percentage held by non executive directors and connected parties was 5.9 per cent. |
| |
Twenty largest shareholders of the company |
| |
|
31 March 2008 |
31 March 2007 |
| Shareholder’s name |
Number of shares |
% |
Number of shares |
% |
| 1 Mr S E Captain |
81,364,526 |
12.79 |
72,943,961 |
13.19 |
| 2 Mr R Rajaratnam |
58,186,212 |
9.15 |
54,484,136 |
9.85 |
| 3 Galleon Technology Offshore Ltd |
21,185,785 |
3.33 |
6,466,925 |
1.17 |
| 4 Genesis Smaller Companies |
15,988,995 |
2.51 |
- |
- |
| 5 Estate of Mr A A N De Fonseka |
15,819,977 |
2.49 |
17,224,005 |
3.11 |
| 6 Aberdeen Global Asia Pacific Fund |
15,737,023 |
2.47 |
14,799,770 |
2.68 |
| 7 Arisaig India Fund Limited |
14,783,475 |
2.32 |
12,935,541 |
2.34 |
| 8 Genesis Emerging Markets Opportunities Fund Limited |
13,989,739 |
2.20 |
- |
- |
| 9 Genesis Group Trust Emerging Markets Fund |
13,666,677 |
2.15 |
11,958,343 |
2.16 |
| 10 Galleon Diversified Fund Limited |
13,143,573 |
2.07 |
11,500,627 |
2.08 |
| 11 FS Asia Pacific |
12,062,964 |
1.90 |
6,580,021 |
1.19 |
| 12 Rubber Investment Trust Limited |
10,847,729 |
1.71 |
9,617,848 |
1.74 |
| 13 Paints & General Industries Limited |
8,440,325 |
1.33 |
9,097,010 |
1.65 |
| 14 CEI Plastics Ltd |
8,280,267 |
1.30 |
9,808,859 |
1.77 |
| 14 Mr K Balendra |
8,142,909 |
1.28 |
8,087,546 |
1.46 |
| 16 Fast Gain International Limited |
7,406,314 |
1.16 |
- |
- |
| 17 Aberdeen Asia Pacific Fund |
7,194,843 |
1.13 |
6,295,488 |
1.14 |
| 18 Ms L A Captain |
7,058,272 |
1.11 |
7,295,813 |
1.32 |
| 19 The Emerging Markets South Asian Fund |
7,025,900 |
1.10 |
- |
- |
| 20 FS Global Emerging Markets Fund |
6,955,246 |
1.09 |
6,295,816 |
1.14 |
| |
|
|
|
|
|
| |
Directors’ shareholdings |
| |
| Name |
31 March 2008 |
31 March 2007 |
| S C Ratnayake |
3,227,747 |
3,057,223 |
| A D Gunewardene |
4,018,568 |
3,749,192 |
| G S A Gunesekera |
1,348,374 |
1,036,523 |
| J R F Peiris |
3,428 |
3,000 |
| E F G Amerasinghe |
4,136 |
3,619 |
| T Das |
Nil |
Nil |
| S Enderby |
Nil |
Nil |
| MV Muhsin |
35,163 |
30,769 |
| P D Rodrigo |
Nil |
Nil |
| S S Tiruchelvam |
Nil |
Nil |
| R S Captain** |
124,234,951 |
124,789,380 |
| |
|
|
|
| |
| Options available under the employee share option plan of John Keells Holdings PLC. |
| S C Ratnayake |
1,931,981 |
1,389,159 |
| A D Gunewardene |
1,759,824 |
1,352,302 |
| G S A Gunesekera |
1,260,611 |
1,217,511 |
| J R F Peiris |
1,587,617 |
883,667 |
| |
|
|
|
* First exercised in FY1997
** Resigned with effect from 6th May 2008 |
| |
Employee share options |
| |
| Year ended 31 March |
Number of options
exercised* (million) |
| 1997 |
0.02 |
| 1998 |
0.16 |
| 1999 |
0.27 |
| 2000 |
0.47 |
| 2001 |
0.02 |
| 2002 |
1.78 |
| 2003 |
2.30 |
| 2004 |
4.08 |
| 2005 |
1.53 |
| 2006 |
2.04 |
| 2007 |
3.67 |
| 2008 |
4.06 |
| |
|
|
| |
History of dividends and scrip issues since 1992/93 |
| |
| Year ended 31 March |
Issue |
Basis |
Number of new shares (million) |
Ex-date |
| 1992 |
Rights @ Rs.160* |
1:4 |
2.50 |
16-Jan-92 |
| 1993 |
Bonus |
1:5 |
2.50 |
03-Sep-92 |
| 1994 |
GDRs |
n/a |
4.50 |
n/a |
| 1995 |
Bonus |
1:6 |
2.50 |
19-Jan-94 |
| 1995 |
Rights @ Rs.200* |
1:6 |
2.50 |
19-Jan-94 |
| 1996 |
Bonus |
1:7 |
3.50 |
20-Dec-95 |
| 1997 |
Bonus |
1:7 |
4.00 |
20-Jan-97 |
| 1998 |
Bonus |
1:4 |
8.02 |
09-Jan-98 |
| 2000 |
Bonus |
1:5 |
8.09 |
15-Jun-99 |
| 2000 |
Bonus |
1:4 |
12.14 |
05-Jan-00 |
| 2001 |
Bonus |
2:1 |
122.36 |
27-Jul-00 |
| 2004 |
Bonus |
1:4 |
46.94 |
10-Jun-03 |
| 2004 |
Private placement |
n/a |
24.00 |
21-Oct-03 |
| 2004 |
Rights @ Rs.75* |
1:7 |
37.42 |
07-Nov-03 |
| 2004 |
Bonus |
1:10 |
30.02 |
13-May-04 |
| 2005 |
Bonus |
1:5 |
66.34 |
10-May-05 |
| 2006 |
Bonus |
1:7 |
57.16 |
13-Jun-06 |
| 2007 |
Rights @ Rs.140* |
1:5 |
92.10 |
23-Jan-07 |
| 2007 |
Bonus |
1:7 |
78.96 |
13-Mar-07 |
| |
|
|
|
|
|
| * Unadjusted prices |
| |
GDR history (in terms of ordinary shares, million) |
| |
| Year ended 31 March |
Issued* |
Converted |
Balance |
| 1994 |
4.50 |
- |
4.50 |
| 1995 |
- |
0.21 |
4.29 |
| 1996 |
0.59 |
0.20 |
4.67 |
| 1997 |
0.27 |
2.80 |
2.14 |
| 1998 |
0.28 |
1.06 |
1.37 |
| 1999 |
- |
0.75 |
0.63 |
| 2000 |
0.26 |
0.52 |
0.36 |
| 2001 |
0.72 |
0.23 |
0.85 |
| 2002 |
- |
0.17 |
0.68 |
| 2003 |
- |
0.16 |
0.52 |
| 2004 |
0.13 |
- |
0.65 |
| 2005 |
0.06 |
- |
0.71 |
| 2006 |
0.14 |
- |
0.85 |
| 2007 |
0.12 |
- |
0.97 |
| 2008 |
0.14 |
- |
1.11 |
| |
|
|
|
|
* First issued in FY1994 and subsequently increased along with bonus issues of ordinary shares
* GDRs/Ordinary shares = 1:2 |
| |
Dividends since 1992/93 |
| |
| Year |
DPS (Rs.) |
Dividends (Rs.'000) |
| 1991/92 |
3.00 |
34,701 |
| 1992/93 |
2.50 |
35,754 |
| 1993/94 |
2.50 |
47,340 |
| 1994/95 |
3.50 |
84,285 |
| 1995/96 |
2.80 |
77,586 |
| 1996/97 |
3.00 |
92,050 |
| 1997/98 |
4.00 |
155,783 |
| 1998/99 |
4.00 |
151,343 |
| 1999/00 |
3.00 |
168,150 |
| 2000/01 |
2.00 |
353,128 |
| 2001/02 |
2.00 |
329,869 |
| 2002/03 |
2.00 |
342,203 |
| 2003/04 |
2.50 |
725,783 |
| 2004/05 |
3.00 |
1,027,497 |
| 2005/06 |
3.00 |
1,199,460 |
| 2006/07 |
3.00 |
1,412,306 |
| 2007/08 |
5.00 |
3,176,302 |
| |
|
|
|
| |
Share capital |
| |
| Year ended 31 March |
Number of shares in issue (million) |
| 1990 |
10.00 |
| 1991 |
10.00 |
| 1992 |
12.50 |
| 1993 |
15.00 |
| 1994 |
24.50 |
| 1995 |
24.50 |
| 1996 |
28.00 |
| 1997 |
32.02 |
| 1998 |
40.21 |
| 1999 |
40.47 |
| 2000 |
61.18 |
| 2001 |
183.56 |
| 2002 |
185.35 |
| 2003 |
187.64 |
| 2004 |
300.08 |
| 2005 |
331.63 |
| 2006 |
400.00 |
| 2007 |
552.94 |
| 2008 |
635.99 |
| |
|
|
| |
| |
| |
If you need help with the following…
• Corporate information
• Dividend payments or direct deposit of dividends into your bank account
• Change of address
• Transfer of shares
• Loss of share certificates
• Consolidation of multiple mailings to one shareholder
• Estate settlements |
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| |
Contact the secretaries
Keells Consultants Limited
130,
Glennie Street
Colombo 02
Sri Lanka
Telephone : + (94) 11 242 11019
Fax : + (94) 11 244 7087 |
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