FGV Annual Report 2014

Before the commencement of the AGM proceedings, the Chairman informs shareholders of their right to a vote by poll. Subsequently the responses to questions submitted in advance by the Minority Shareholder Watchdog Group are shared. All shareholders were encouraged and given sufficient opportunity to enquire about the Group’s activities and prospects as well as their expectations and concerns. Shareholders were also encouraged to participate in the Question and Answer session on the resolutions to be proposed or about the Group’s operations in general. Shareholders who were unable to attend are allowed to appoint proxies in accordance with the Company’s Articles to attend and vote on their behalf. A press conference is held immediately after the AGM where the Chairman and Group President/Chief Executive Officer provide updates to the media representatives on the resolutions passed and answer questions on matters pertaining to the Group. The outcome of the AGM is announced to Bursa Securities on the same day. FGV had made available the minutes of the 2014 AGM in its corporate website. Dividend Policy The Company presently adopts a dividend pay-out ratio of at least 50 percent of its profit after tax (PAT) attributable to shareholders excluding nonrecurring income. The dividend policy also takes into consideration the level of cash, gearing, return on equity and retained earnings, expected financial performance, projected levels of capital expenditure and other investment plans and working capital requirements, general financial condition, contractual obligations and other factors considered relevant by the Board. As the Company is an investment holding company, its income and therefore its ability to pay dividends is dependent upon the dividends received from its subsidiaries, which in turn would depend on the subsidiaries’ distributable profits, operating results, financial condition, capital expenditure plans and other factors deemed relevant. Whilst the dividend policy reflects the Board’s current views on FGV Group’s financial and cash flow position, the dividend policy will be reviewed from time to time. It is the policy of the Board, in recommending dividends, to allow shareholders to participate in the Company’s profit, as well as to retain adequate reserves for future growth. Dividends paid during the FYE 2014 were as follows: Dividend Date Paid Tax Exempt Dividend (Single Tier) Total Dividend (RM’Million) Dividend Payout Ratio (%) Final Dividend FYE 2013 11 July 2014 10 sen 364.82 37.14% Interim Dividend FYE 2014 29 September 2014 6 sen 218.89 67.25% Felda Global Ventures Holdings Berhad pg 134 STATEMENT ON CORPORATE GOVERNANCE