Highlight GBH jumps 9.8% on dividend payout

by **Cals** Wed 22 Apr 2015, 19:35

Highlight
GBH jumps 9.8% on dividend payout

KUALA LUMPUR (Apr 22): Shares in Goh Ban Huat Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) advanced to a high of RM1.68 in the morning trades after the group declared a first interim single-tier dividend of 12% yesterday.
According to Bursa Malaysia filings, Goh Ban Huat (fundamental: 1.8; valuation: 0.3) had not declared any dividends since 2010.
As at 9.48am, the counter rose as much as 15 sen or 9.8% to settle at RM1.68, making it the largest gainer across the bourse.
Some 97,800 shares were done between RM1.60 and RM1.68. It has a market capitalisation of RM284.45 million.
In a filing with Bursa Malaysia yesterday, the ceramic products and bathroom accessories maker has declared a 12% dividend for the financial year ended March 31, 2015.
The dividend was payable on May 25 this year, the filing stated.
Aside from this, Goh Ban Huat also announced on April 16 that it has changed its financial year end to March 31 from Dec 31 previously.
On March 30, Goh Ban Huat has completed the land disposal deal with Keladi Maju Bhd ([You must be registered and logged in to see this image.] Financial Dashboard), which is linked to Goh Ban Huat's chairman Tan Sri Tan Hua Choon.
Goh Ban Huat will realise a net gain of RM71.2 million from the deal.
Following the land disposal, Goh Ban Huat will fall into the PN16 cash-company status, whereby it has to submit a regularisation plan to the regulator within 12 months.
(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)