Japanese firm Xyec declares special dividend to celebrate one-year listing on Catalist

SINGAPORE - Catalist-listed Japanese firm Xyec Holdings has declared a special dividend of 0.5 yen per share.

The manufacturing information technology specialist said on Friday that the dividend will be payable on Nov 28.

Xyec said it is awarding the special dividend to shareholders in conjunction with the one year anniversary of its listing on Catalist.

The special dividend is, however, subject to withholding tax.

Singapore residents with a less than 3 per cent stake in Xyec will have to be subject to a 15.315 per cent tax rate, while those with a shareholding of 3 per cent or more will have to pay a 20.42 per cent tax.

Japan residents with a less than 3 per cent stake have to pay a 20.315 per cent withholding tax, while those with 3 per cent or more will have to pay a 20.42 per cent tax.