Stock News: Parkway Holdings announces special div, rights issue

Parkway Holdings said it is distributing a pretax special interim cash dividend of 0.1125 sgd or net 0.09 sgd per ordinary share, and a 1-for-20 rights issue of up to 36.50 mln rights shares priced at 1.80 sgd each. The special dividend is to reward shareholders and provide them with an option to re-invest by subscribing to the rights shares, while allowing Parkway to pass on its tax credits available under Section 44A of the Income tax Act of Singapore to shareholders. "The rights issue has been proposed to strengthen the capital base of Parkway," the group said in a statement.