Casino equipment maker and distributor RGB International Bhd said it would not pay its final dividend for the fiscal year ending December 31, 2019, due to business disruptions caused by the global coronavirus crisis.

"Because of the socioeconomic uncertainty caused by the ongoing COVID-19 pandemic," the Malaysian company said in a filing with Bursa Malaysia.

The board also "deliberated and decided not to declare a final dividend regarding the fiscal year ending December 31, 2019 as we evaluate the full impact from the outbreak and restructure the group's next course of action," it added.

The Company confirmed that it had already paid a total dividend of MYR 4.6 million ($1.1 million) "equivalent to 12% of 2019 net income" for the fiscal year. On April 15, the Company paid an interim single-group dividend of MYR0.003 per share of common stock.

RGB said: "While the group has maintained regular dividend practices to reward loyal shareholders, the board continues to seek to establish formal dividend policies in the long term, mindful of the investments needed to execute its expansion plans, particularly in the challenging environment expected."

The group added: "Our priority is to build a sustainable growth path that is beneficial to both the group and its shareholders."

The brand's three main activities are sales, marketing and manufacturing of electronic game consoles and equipment, machine concession services, technical support and management, and on-site technical support, prevention maintenance, and repair services for electronic game consoles and equipment.

In February, RGB reported full-year net income of about $39.8 million in 2019, up 13.1% year-over-year. 동행복권파워볼