The Board of Directors of OCK Group Berhad (“OCK” or “the Company”) (“Board”) is pleased to announce that the Company will adopt a Dividend Policy (“Policy”) designed to enable shareholders to participate in OCK's profits, while also maintaining an adequate level of reserves to support future growth.

Barring any unforeseen circumstances, OCK targets a payout ratio of at least 20% of its consolidated normalized annual net profit after taxation and minority interest (“PATAMI”)  for each financial year, to be paid quarterly, after excluding non-operating income that is capital in nature.

This Dividend Policy takes effect immediately.

The declaration of interim dividends and the recommendation of final dividends are subject to the discretion of the Board and any final dividend for the year is subject to shareholders’ approval. Any dividend payment will depend on various factors, including, inter-alia, OCK’s earnings, operating conditions, capital requirements, future expansion plans, general economic condition, growth / expansion strategy and working capital requirements, the Company’s distributable reserves, any contractual obligations and other factors considered relevant by the Board.

The dividend policy reflects the Board’s intention to continue to reward the shareholders and does not constitute a legally binding statement in respect of the Company’s future dividends which are subject to modification (including reduction or non-declaration thereof) at the Board’s discretion.

This announcement is dated 28 February 2024.