THE shareholders of TSE Sui Luen Jewellery (International) have the slow property market to thank for a 50 per cent increase in final dividend for the year.
President Tse Sui-luen told reporters after the company's annual general meeting yesterday that it was untrue the company increased the final dividend to prop up its share price.
Mr Tse said the company did not need to accumulate a large amount of capital for property investment this year and had therefore deemed it desirable to give the money back to shareholders.
The dividend of 30 cents per share compares with 20 cents for the previous corresponding period.
TSL Jewellery has 19 retail shops and five tourist showrooms in Hong Kong. It reported a 0.6 per cent rise in operating profit to $96.9 million in 1995.
Mr Tse said the group would continue to develop its business image, product design and management.