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IFCA to reward shareholders, eyes 20% of profit as dividends
by Cals Thu 06 Nov 2014, 18:50
IFCA to reward shareholders, eyes 20% of profit as dividends
KUALA LUMPUR (Nov 6): IFCA MSC Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) is prepared to reward shareholders with a "meaningful" dividend at the end of 2014, group chief executive officer Ken Yong said.
Yong said IT software provider IFCA was evaluating plans to earmark some 20% of its profit as dividends.
"The board had a meeting and we are exploring the possibility of declaring around 20% of our profits for the year as dividends," he said at a press conference today.
The press conference was in conjunction with the announcement of IFCA's third quarter financials yesterday.
IFCA reported that net profit soared 443% to RM8.53 million in the third quarter ended September 30, 2014 from RM1.57 million a year earlier. Revenue rose to RM25.75 million from RM15.26 million.
Today, Yong said the time was right for IFCA to declare dividends as the firm had accumulated a large cash pile. He also said IFCA's business was not capital extensive.
IFCA shares jumped 5.5 sen or 8% to settle at 75 sen at 12.30pm for a market capitalisation of RM343.1 million. The fifth-most active stock on the exchange saw some
39 million shares done.
IFCA shares had risen 838% this year, significantly outpeforming the FBM KLCI's 2% decline.
KUALA LUMPUR (Nov 6): IFCA MSC Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) is prepared to reward shareholders with a "meaningful" dividend at the end of 2014, group chief executive officer Ken Yong said.
Yong said IT software provider IFCA was evaluating plans to earmark some 20% of its profit as dividends.
"The board had a meeting and we are exploring the possibility of declaring around 20% of our profits for the year as dividends," he said at a press conference today.
The press conference was in conjunction with the announcement of IFCA's third quarter financials yesterday.
IFCA reported that net profit soared 443% to RM8.53 million in the third quarter ended September 30, 2014 from RM1.57 million a year earlier. Revenue rose to RM25.75 million from RM15.26 million.
Today, Yong said the time was right for IFCA to declare dividends as the firm had accumulated a large cash pile. He also said IFCA's business was not capital extensive.
IFCA shares jumped 5.5 sen or 8% to settle at 75 sen at 12.30pm for a market capitalisation of RM343.1 million. The fifth-most active stock on the exchange saw some
39 million shares done.
IFCA shares had risen 838% this year, significantly outpeforming the FBM KLCI's 2% decline.
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