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Update Glomac MD says higher dividend in FY13 possible
by Cals Thu 13 Jun 2013, 22:19
| Update Glomac MD says higher dividend in FY13 possible |
| Business & Markets 2013 |
| Written by Kamarul Anwar of theedgemalaysia.com |
| Thursday, 13 June 2013 18:01 |
KUALA LUMPUR (June 13): GLOMAC BHD [] is poised to surpass last financial year's net profit and this will translate into a bigger dividend for this year, said its group managing director/CEO Datuk FD Iskandar.
In the financial year ended April 30, 2012 (FY12), the property developer paid dividends of 5.5 sen per share.
For FY13, Iskandar said Glomac hopes to “at least match” the figure for FY12.
"While we don't have a dividend payout policy, we've been distributing 35% to 40% of our net profit to our shareholders. Even if we pay out 35% of our net profit this financial year, the total dividend will still be higher than the last," he told reporters at Invest Malaysia 2013 conference.
Glomac made a net profit of RM70.3 million on revenue of RM445.3 million in the nine months of its current financial year (9MFY13). In the previous corresponding period, the group raked in net profit of RM63.5 million on the back of RM408 million.
Iskandar said Glomac has a target of RM750 million in new sales. So far, the group has reaped new sales of RM519 million.
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