Declared Dividend • Apr 12
Final dividend reduced to S$0.004 Dividend of S$0.004 is 56% lower than last year. Ex-date: 6th May 2026 Payment date: 15th May 2026 Dividend yield will be 4.3%, which is higher than the industry average of 3.7%. Sustainability & Growth Dividend is not adequately covered by earnings (94% earnings payout ratio). However, it is well covered by cash flows (29% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 4.9% to bring the payout ratio under control. However, EPS has declined by 11% over the last 5 years so the company would need to reverse this trend. New Risk • Mar 01
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 22% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 0.9% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (94% payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.3% net profit margin). Market cap is less than US$100m (S$96.5m market cap, or US$76.3m). Reported Earnings • Feb 26
Full year 2025 earnings released: EPS: S$0.01 (vs S$0.021 in FY 2024) Full year 2025 results: EPS: S$0.01 (down from S$0.021 in FY 2024). Revenue: S$310.8m (down 2.1% from FY 2024). Net income: S$4.18m (down 55% from FY 2024). Profit margin: 1.3% (down from 2.9% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Declared Dividend • Sep 25
First half dividend reduced to S$0.005 Dividend of S$0.005 is 44% lower than last year. Ex-date: 2nd October 2025 Payment date: 16th October 2025 Dividend yield will be 5.7%, which is higher than the industry average of 3.7%. Sustainability & Growth Dividend is not adequately covered by earnings (92% earnings payout ratio) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 2.6% to bring the payout ratio under control, which is less than the 18% EPS growth achieved over the last 5 years. Reported Earnings • Aug 15
First half 2025 earnings released: EPS: S$0.005 (vs S$0.011 in 1H 2024) First half 2025 results: EPS: S$0.005 (down from S$0.011 in 1H 2024). Revenue: S$158.7m (down 1.9% from 1H 2024). Net income: S$2.22m (down 55% from 1H 2024). Profit margin: 1.4% (down from 3.0% in 1H 2024). Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. New Risk • Aug 13
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 118% The company is paying a dividend despite having no free cash flows. Dividend yield: 7.2% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 118% Paying a dividend despite having no free cash flows. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.1% net profit margin). Market cap is less than US$100m (S$114.1m market cap, or US$88.9m). Declared Dividend • Apr 17
Final dividend reduced to S$0.009 Dividend of S$0.009 is 10% lower than last year. Ex-date: 5th May 2025 Payment date: 15th May 2025 Dividend yield will be 7.5%, which is higher than the industry average of 3.7%. Sustainability & Growth Dividend is covered by earnings (85% earnings payout ratio) but not covered by cash flows (484% cash payout ratio). The dividend has increased by an average of 1.8% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 41% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 16
Full year 2024 earnings released: EPS: S$0.021 (vs S$0.029 in FY 2023) Full year 2024 results: EPS: S$0.021 (down from S$0.029 in FY 2023). Revenue: S$317.5m (up 3.6% from FY 2023). Net income: S$9.34m (down 27% from FY 2023). Profit margin: 2.9% (down from 4.2% in FY 2023). Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 6% per year. Reported Earnings • Mar 02
Full year 2024 earnings released: EPS: S$0.021 (vs S$0.029 in FY 2023) Full year 2024 results: EPS: S$0.021 (down from S$0.029 in FY 2023). Revenue: S$317.5m (up 3.6% from FY 2023). Net income: S$9.34m (down 27% from FY 2023). Profit margin: 2.9% (down from 4.2% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 8% per year. New Risk • Mar 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (S$109.7m market cap, or US$81.2m). Announcement • Nov 28
New Toyo International Holdings Ltd Appoints Loo Shi Yi as Company Secretary The Board of Directors of New Toyo International Holdings Ltd. announced the appointment of Ms. Loo Shi Yi as Company Secretary of the Company with effect from 28 November 2024. Following the aforesaid appointment, the Company Secretaries of the Company are Mr. Lee Wei Hsiung and Ms. Loo Shi Yi. Declared Dividend • Sep 25
First half dividend of S$0.009 announced Dividend of S$0.009 is the same as last year. Ex-date: 2nd October 2024 Payment date: 16th October 2024 Dividend yield will be 7.5%, which is higher than the industry average of 3.7%. Sustainability & Growth Dividend is covered by both earnings (70% earnings payout ratio) and cash flows (88% cash payout ratio). The dividend has increased by an average of 1.6% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 50% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 18
First half 2024 earnings released: EPS: S$0.011 (vs S$0.013 in 1H 2023) First half 2024 results: EPS: S$0.011 (down from S$0.013 in 1H 2023). Revenue: S$161.8m (up 14% from 1H 2023). Net income: S$4.91m (down 16% from 1H 2023). Profit margin: 3.0% (down from 4.1% in 1H 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Apr 29
Upcoming dividend of S$0.01 per share Eligible shareholders must have bought the stock before 06 May 2024. Payment date: 16 May 2024. Payout ratio is a comfortable 65% and this is well supported by cash flows. Trailing yield: 8.2%. Within top quartile of Singaporean dividend payers (6.3%). Higher than average of industry peers (1.9%). Reported Earnings • Apr 14
Full year 2023 earnings released: EPS: S$0.029 (vs S$0.023 in FY 2022) Full year 2023 results: EPS: S$0.029 (up from S$0.023 in FY 2022). Revenue: S$306.4m (up 7.2% from FY 2022). Net income: S$12.8m (up 28% from FY 2022). Profit margin: 4.2% (up from 3.5% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Declared Dividend • Apr 14
Final dividend increased to S$0.01 Dividend of S$0.01 is 11% higher than last year. Ex-date: 6th May 2024 Payment date: 16th May 2024 Dividend yield will be 8.3%, which is higher than the industry average of 3.7%. Sustainability & Growth Dividend is covered by both earnings (65% earnings payout ratio) and cash flows (56% cash payout ratio). The dividend has increased by an average of 1.6% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 25% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Apr 11
New Toyo International Holdings Ltd, Annual General Meeting, Apr 26, 2024 New Toyo International Holdings Ltd, Annual General Meeting, Apr 26, 2024, at 10:00 Singapore Standard Time. Location: 39 Scotts Road, Topaz & Opal Room Level 2, Sheraton Towers Singapore Singapore Agenda: To receive and adopt the Directors' Statement and Audited Financial Statements for the financial year ended 31 December 2023 and the Reports of the Auditors thereon; to declare a final tax exempt (1-tier) dividend of 1.0 Singapore cents per ordinary share for the financial year ended 31 December 2023; to approve the Directors' fees of S$480,000 for the financial year ending 31 December 2024, to be paid quarterly in arrears and to consider other matters. Reported Earnings • Mar 01
Full year 2023 earnings released: EPS: S$0.029 (vs S$0.023 in FY 2022) Full year 2023 results: EPS: S$0.029 (up from S$0.023 in FY 2022). Revenue: S$306.4m (up 7.2% from FY 2022). Net income: S$12.8m (up 28% from FY 2022). Profit margin: 4.2% (up from 3.5% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. New Risk • Feb 27
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Market cap is less than US$100m (S$92.3m market cap, or US$68.6m). Announcement • Sep 20
New Toyo International Holdings Ltd. Announces Interim Tax Exempt One-Tier Dividend for the Financial Year Ending 31 December 2023, Payable on 18 October 2023 New Toyo International Holdings Ltd. announced Interim Tax Exempt One-Tier Dividend of 0.90 Singapore cent per ordinary share for the financial year ending 31 December 2023. Payment of the Interim Dividend will be made on 18 October 2023. Reported Earnings • Aug 14
First half 2023 earnings released: EPS: S$0.013 (vs S$0.012 in 1H 2022) First half 2023 results: EPS: S$0.013 (up from S$0.012 in 1H 2022). Revenue: S$141.4m (up 6.9% from 1H 2022). Net income: S$5.87m (up 8.4% from 1H 2022). Profit margin: 4.1% (in line with 1H 2022). Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 13
Full year 2022 earnings released: EPS: S$0.023 (vs S$0.018 in FY 2021) Full year 2022 results: EPS: S$0.023 (up from S$0.018 in FY 2021). Revenue: S$285.7m (up 22% from FY 2021). Net income: S$9.97m (up 23% from FY 2021). Profit margin: 3.5% (in line with FY 2021). Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 01
Full year 2022 earnings released: EPS: S$0.023 (vs S$0.018 in FY 2021) Full year 2022 results: EPS: S$0.023 (up from S$0.018 in FY 2021). Revenue: S$285.7m (up 22% from FY 2021). Net income: S$9.97m (up 23% from FY 2021). Profit margin: 3.5% (in line with FY 2021). Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Sep 22
New Toyo International Holdings Ltd Declares Interim Cash Dividend for the Financial Year Ending 31 December 2022, Payable on 20 October 2022 NOTICE IS HEREBY GIVEN that the Share Transfer Books and Register of Members of New Toyo International Holdings Ltd. (the "Company") will be closed from 11 October 2022 after 5.00 p.m. to 12 October 2022 (both dates inclusive) for the purpose of determining shareholders' entitlements to the Interim Tax Exempt One-Tier Dividend of 0.90 Singapore cent per ordinary share (the "Interim Dividend") for the financial year ending 31 December 2022. Duly completed transfers in respect of the Company received by the Company's Share Registrar, Tricor Barbinder Share Registration Services, 80 Robinson Road, #11-02, Singapore 068898 up to the close of business at 5.00 p.m. on 11 October 2022 will be registered to determine shareholders' entitlements to the Interim Dividend. Shareholders whose Securities Accounts with The Central Depository (Pte) Limited are credited with ordinary shares in the capital of the Company as at 5.00 p.m. on 11 October 2022 will be entitled to the Interim Dividend. Payment of the Interim Dividend will be made on 20 October 2022. Reported Earnings • Aug 13
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (down S$4.91m from profit in 1H 2021). Profit margin: (down from 4.2% in 1H 2021). Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Jul 27
New Toyo International Holdings Ltd Announces Changes of Chief Financial Officer New Toyo International Holdings Ltd. announced the appointment of Ms. Priscilla Ng Kar Choo as the new Chief Financial Officer of the Company with effect from 15 August 2022, in place of Mr. Joshua Lam Chin Chong, who has resigned as the Chief Financial Officer. Mr. Lam will be relinquishing his position as Chief Financial Officer of the Company on 3 November 2022. Announcement • May 27
New Toyo International Holdings Ltd Announces Appointment of David Ong Kim Huat as Member of the Nominating Committee The Board of Directors of New Toyo International Holdings Ltd. announced that Mr. David Ong Kim Huat, the Non-Executive and Independent Director of the Company, shall be appointed as a member of the Nominating Committee (NC) with effect from 26 May 2022. Following Mr. David Ong Kim Huat's appointment as an NC Member, the NC will comprise the following members: Tay Joo Soon, Non-Executive and Independent Director - Chairman, Wan Tai Foong, Non-Executive and Lead Independent Director - Member, Phua Tin How, Non-Executive and Independent Director - Member and David Ong Kim Huat, Non-Executive and Independent Director - Member. Reported Earnings • Apr 12
Full year 2021 earnings released: EPS: S$0.018 (vs S$0.017 in FY 2020) Full year 2021 results: EPS: S$0.018 (up from S$0.017 in FY 2020). Revenue: S$234.2m (down 3.4% from FY 2020). Net income: S$8.12m (up 7.0% from FY 2020). Profit margin: 3.5% (up from 3.1% in FY 2020). Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Apr 08
New Toyo International Holdings Ltd Proposes Final Dividend for the Financial Year Ended December 31, 2021 New Toyo International Holdings Ltd. at the AGM to be held on April 28, 2022, proposed final dividend of 0.9 cents per ordinary share for the financial year ended December 31, 2021. Reported Earnings • Mar 02
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: S$0.019 (up from S$0.017 in FY 2020). Revenue: S$234.7m (down 3.2% from FY 2020). Net income: S$8.12m (up 7.0% from FY 2020). Profit margin: 3.5% (up from 3.1% in FY 2020). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Jul 03
An unknown buyer proposed to acquire S.A. Toyo Paper Products Pty Ltd from New Toyo International Holdings Ltd (SGX:N08) for AUD 4.4 million. An unknown buyer proposed to acquire S.A. Toyo Paper Products Pty Ltd from New Toyo International Holdings Ltd (SGX:N08) for AUD 4.4 million on July 1, 2021. Executive Departure • Jun 05
Non-Executive & Independent Director Seok Kian Tay has left the company On the 28th of May, Seok Kian Tay's tenure as Non-Executive & Independent Director ended after 8.8 years in the role. As of March 2021, Seok Kian still personally held only 30.00k shares (S$5.6k worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 4.75 years. Reported Earnings • Apr 01
Full year 2020 earnings released The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: S$242.9m (down 19% from FY 2019). Net income: S$7.59m (up S$22.8m from FY 2019). Profit margin: 3.1% (up from net loss in FY 2019). The move to profitability was driven by lower expenses. Announcement • Mar 01
New Toyo International Holdings Ltd to Report Fiscal Year 2020 Final Results on May 12, 2021 New Toyo International Holdings Ltd announced that they will report fiscal year 2020 final results on May 12, 2021 Announcement • Oct 31
New Toyo International Holdings Ltd Announces Re-Designation of Yen Wen Hwa as Non-Executive Chairman to Executive Chairman The Board of Directors of New Toyo International Holdings Ltd. announce the re-designation of Mr. Yen Wen Hwa as the Executive Chairman of the
Company with effect from 1 November 2020. He was appointed as Director and Non-Executive Chairman of the Company on 1 September 2016. Is New 90 Day High Low • Oct 13
New 90-day high: S$0.21 The company is up 52% from its price of S$0.14 on 15 July 2020. The Singaporean market is down 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Forestry industry, which is up 5.0% over the same period.