MTQ Corporation

[Musicwhiz]

I have not seen the scrip shares in my CDP account as of this typing!

The announcement below sheds some light on the scrip dividend scheme for the FY 2012 final dividend:-

http://info.sgx.com/webcoranncatth.nsf/V...E00117956/$file/Scrip_Dividend_Issue_And_Allotment_of_Shares.pdf?openelement

Shares before scrip issue = 97,761,042 (refer to my post #142 within this thread Page 15)
Shares issued for scrip = 1,238,784 (New)
Shares after scrip issue = 98,999,826

Cash Outlay Assuming all dividends paid out in cash = $1,955,220.84 (97,761,042 shares x $0.02 final dividend).

Using $0.77 scrip dividend issue price, assuming ALL shareholders received scrip, a total of 2,539,248 shares should have been issued.

Thus, scrip take-up rate = 1,238,784 / 2,539,248 = about 48.8%

This is much higher compared to the interim dividend take-up rate of about 10% (nearly 5x more)! Could it be because of the much improved 1Q 2013 results announced by MTQ which has made shareholders more confident in choosing scrip, as an indication of better times to come? Perhaps more shareholders have decided to reinvest their dividends.

(Note: The Company saved about $953,863 in cash by paying out scrip instead of cash dividend)