Steppe Cement Ltd – a cement producer based in Malaysia and focused on Kazakhstan – has stated that the new tax legislation in Malaysia, the Netherlands, and Kazakhstan means that its corporate structure is ineffective for paying shareholders. It indicates that it is therefore exploring other means of distributing value to shareholders. Note that it declared that it would pay a dividend between 2 pence and 3 pence in July of last year.
Current share price: 23.00 pence per share
12-month change: down 46
By Harvey Dorset, journalist at Alliance News
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