KUALA LUMPUR: Lotte Chemical Titan Holdings Bhd has declared a 21 sen dividend per share, bringing its total payout for the financial year ended Dec 31, 2021, to 39 sen per share.

       The entitlement date of the dividend is March 22, 2022, while payment will be made on April 13, 2022.

       In a statement, the petrochemicals producer said it had achieved a profit after tax and minority interest (Patami) of RM1.04bil in FY21 and that the payout represents about 50% Patami payout ratio after deducting the one-off cash gain from LC USA's partial disposal of equity interest in LACC LLC.

       It noted that it has paid total dividends of RM888.2mil in FY21, which translates to a dividend yield of 18.6% based on the date of the dividend announcement.

       “We will continue to reward our shareholders with dividend payment in-line with our performance for the period. We will focus on our growth and expansion in Indonesia through the LINE Project and bring value to our investors," said president and CEO Park Hyun Chul.

       At 12.30pm, shares in Lotte were unchanged from their previous reference price at RM2.10 a share with 1.61 million units exchanging hands.