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| Tuesday, 7 December 2004 |
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Seylan Merchant Leasing (SMLL) declares 10% dividend Seylan Merchant Leasing Limited (SMLL) the specialised leasing arm of Seylan Merchant Bank, has declared a final dividend of 10 per cent to all shareholders, on the back of a creditable fiscal performance in 2003. Both "Class A" and "Class B" shareholders of SMLL will be eligible to receive this dividend the company announced this week. All "Class A" shares are held by Seylan Merchant Bank, while "Class B" shareholders are those who participated in a public unquoted share issue in November 2000. SMLL has reported a net profit of Rs. 25.03 million for the year ended December 31, 2003, almost double the profit recorded in 2002. The net income of the company increased from Rs. 36.17 million in 2002 to Rs. 53.90 million last year, representing an increase of 49 per cent. Interest Income increased 48.74 per cent from Rs. 32.17 million in 2002 to Rs. 47.85 million in 2003. |
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