Dividend pay-out policy

The dividend policy is termed as the policy that is used by the corporates to reorganize the dividend
pay-out to shareholders. It is concerned with the financial policies when the dividend is paid at the
current stage or the later stage. The dividend policy of Tourism Holdings Limited is paid in the month
of April of every year in case of interim dividend, whereas in case of final dividend, the dividend is
declared in the month of October. In terms of the cents the highest dividend recorded is of 0.13 per
share in case of the interim dividend however, in case of final dividend, 0.14 per share is used.
Around 58% of the dividends are paid out from the profits earned. The company has the stable
dividend policy yet the company paid out fewer dividends than it reported in the profits.

The metric that is used to measure the dividend is the dividend pay-out ratio whereas in comparison
to the last year Tourism Holdings Limited paid free cash flows of around 574% and the same is quite
concerning.

Special dividends
Dividends received or receivable from associates and joint ventures are recognised as a reduction in
the carrying amount of the investment. As a part of the reinvestment plan the company introduced
1735 ordinary shares at $4926 per share.

Share buyback offers

As such there were no buyback offers, offered by Tourism Holdings Limited.
Company’s current dividend yield

Peer companies data

Similarities or differences

Is the company’s dividend pay-out policy appropriate, in your opinion?

Consider differences from peers, how effectively the company is using its retained earnings and any
other factors you deem relevant to justify your decision.
References

http://www.thlonline.com/FinancialInvestorInformation/Pages/Dividends.aspx