AJI's old factory land was successfully sold for RM408 million. After completion, a special dividend of RM2.12 per share will be distributed

Ajinomoto (AJI, 2658) reached a deal with Paragon TSL to sell off the old factory land for RM408 million, and proposed a special dividend of RM2.12 per share thereafter.

Let's take a look at how the company plans to use this money!

31.6% to pay a special dividend

31.6% for working capital

20.4% to repay bank loans

7.4% to repay advance payments to the Japanese parent company

8.6% to pay the anticipated industrial profit tax (RPGT)

0.4% for the expenses required for this sale

AJI will become a net cash company after repaying bank loans. In addition to the good progress made in the development of the company entering the Middle East market in recent years, it is expected that AJI shareholders will be able to achieve “both financial and interest” investment returns!

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