KUALA LUMPUR (Jan 10): Allianz Malaysia Bhd and its warrant led the top gainers list on Wednesday, after the company announced a record dividend payout.
Allianz Malaysia’s share price jumped to a record high of RM19.24 at noon break — 54 sen or 2.89% higher than the previous closing price of RM18.70 — valuing it at RM3.42 billion.
It saw some 103,100 shares changed hands, more than double its 200-day average volume of 29,680. The stock is currently trading at a price-to-earnings (P/E) ratio of 11.29 times, with a dividend yield of 5.64%.
According to Bloomberg data, Allianz received “buy” ratings from three analysts, while two analysts recommend “hold”, with target prices (TPs) ranging between RM17 and RM20.
Meanwhile, its warrant Allianz-PA, jumped 86 sen or 4.48% to RM20.06 on trades of 28,000 units.
Allianz announced on Tuesday (Jan 9) that it had declared a second interim dividend of 69 sen per share for the financial year ended Dec 31, 2023 (FY2023) — to be paid on Feb 8 — bringing the year-to-date (YTD) total dividend to 100.5 sen. The total dividend surpassed the previous record dividend of 85 sen for FY2022.
The group also announced a dividend of 82.8 sen per irredeemable convertible preference share (ICPS).
Allianz reported a record net profit of RM197.86 million for the third quarter ended Sept 30, 2023 (3QFY2023), up 41.7% from RM139.59 million a year earlier. Revenue grew 16.8% to RM1.3 billion, from RM1.11 billion.
This brought its net profit and revenue for the nine months ended Sept 30, 2023 (9MFY2023) to RM537.22 million and RM3.63 billion, respectively.