BToto- Proposed Dividend of 49.5 sen already paid out

BToto has recently announced its results for 1Q2010 ended 31/7/2009. Its net profit increased by 8.6% to RM100.4 million from RM92.4 million in 1Q2009. Turnover remained unchanged at RM826 million. What attracted investors' attention was the eye-popping proposed dividend of 49.5 sen (see Diagram 1 below).


Diagram 1: BToto's results announcement for 1Q2010

If you look into its financial statement, you can see the proposed dividend was reflected in its Profit & Loss Account (see Diagram 2 below) but it was not shown in the Current Liabilities section of the Balance Sheet (see Diagram 3 below).


Diagram 2: Relevant section of BToto's Profit & Loss Account for 1Q2010


Diagram 3: Relevant section of BToto's Balance Sheet as at 31/7/2009

On further checking, it seems that there was another dividend payout- consisting of cash dividend & share dividend- in July that is exactly the same of the proposed dividend (go here). The entitlement date of the earlier dividend was July 15, with the cash dividend paid on July 27 & the share dividend credited to the shareholder's account "within ten (10) market days from the Entitlement Date".

Is there an error in the results announcement? I have just confirmed with the registrar that the so-called proposed dividend is indeed the same dividend that was paid out or credited in July. DON'T EXPECT TO RECEIVE ANY DIVIDEND OF 49.5 SEN ANYTIME SOON. Please be guided accordingly.