KUALA LUMPUR (March 29): Classic Scenic Bhd announced an interim single-tier dividend of 5.5 sen per share for the financial year ended Dec 31, 2023, to be paid on April 28.
Its ex-date is April 12 and its entitlement date is April 13, said the group in its bourse filing on Wednesday (March 29).
Classic Scenic — a wooden picture frame moulding and timber products manufacturer — has not paid dividends for the last two years, with the last interim dividend of three sen paid in its financial year 2020 (FY2020).
For the full year (FY2022), the group’s net profit jumped 196.41% to RM18.99 million — the highest since the group’s listing in 2004 — from RM6.41 million in FY2021.
Its performance was due to significantly higher export sales, efficient use of raw materials and the strengthening of the US dollar.
The group had also proposed a one-for-one bonus issue of up to 361.5 million shares, but it was shelved on March 17 to comply with the Main Market Listing Requirements following the decline in its share price.
Instead, the group plans to undertake a new bonus issuance on the basis of one bonus share for every two shares held (one-for-two) involving the issuance of up to 180.75 million shares.
Classic Scenic’s share price closed one sen or 1.14% lower at 86.5 sen, giving it a market capitalisation of RM214.98 million.