EuroSports to declare special dividend after completing sale of premises

EuroSports Global, a luxury lifestyle company that is the sole authorised dealer for Lamborghini cars here, plans to declare a one-off special dividend after completing the sale of its premises at 30 Teban Gardens Crescent.

The company sold the property to Cambridge Industrial Trust and will lease it back for a period of six years with an option to renew the lease for another six years, it said on Tuesday.

The sale price was $41 million, which paves the way for a one-time special dividend of between $6 million and $8 million for the financial year ended Mar 31 next year, said EuroSports, which is listed on the Singapore Exchange Catalist board.

This translates to a dividend of between 2.26 cents and 3.02 cents per share, based on a share capital of 265 million shares.

It will represent a dividend yield of over 10 per cent a share, going by the closing share price of EuroSports at 22 cents on Monday.

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