BANGKOK, 23 August 2023: Minor International PCL’s board of directors approved an interim cash dividend payment of THB0.25 per share to its shareholders based on a strong and profitable operating performance delivered by its global hotel and restaurant portfolio during the first half of 2023.
This dividend payment underscores the company’s robust cash flows from operations, improved balance sheet strength, and unwavering confidence in its positive outlook for growth, cash flows and profitability for its stakeholders.
In a summary statement to the Stock Exchange of Thailand, the group reported a core profit of THB3,005 million during Q2/2023 more than doubling year-on-year, turning positive from core loss in the previous quarter and surpassing pre-pandemic level in 2019.
The rebound to positive territory continued for the entire first half of 2023, recording a core profit of THB2,358 million compared to a core loss of THB2,371 million in the first half of 2022.
“We are thrilled to announce this cash dividend payment, which is a testament to our strong performance and financial stability,” said MINT Group CEO Dillip Rajakarier. “The achievement of our recent record-breaking quarterly profit of THB3 billion, together with continued momentum expected for the rest of the year, provided us with the confidence to not only reward our shareholders but also provide room for further expansion throughout this year and into 2024.”
The dividend will be paid out on 15 September 2023.
About Minor International
Minor International (MINT) is a global company focused on three core businesses: hospitality, restaurants and lifestyle brands distribution.
MINT is a hotel owner, operator and investor with a portfolio of over 530 hotels under the Anantara, Avani, Oaks, Tivoli, NH Collection, NH, nhow, Elewana, Marriott, Four Seasons, St. Regis and Radisson
Blu brands in 55 countries across the Asia Pacific, the Middle East, Africa, the Indian Ocean, Europe, South and North America.
