KUALA LUMPUR (Nov 27): RGB International Bhd (KL:RGB) declared a special dividend on top of an interim dividend, despite a 26.85% drop in the integrated gaming solutions provider’s third quarter net profit on lower sales of electronic gaming machines (EGMs).

The company plans to distribute a 1.2 sen per share special dividend and 0.6 sen per share third interim dividend, both payable on Dec 31, according to its bourse filings on Wednesday.

This brings total dividend for the nine months ended Sept 30, 2024 (9MFY2024) to three sen per share, higher than the 1.2 sen declared in the same period last year.

The three sen dividend per share (DPS) translates to a 7.59% yield on its share price of 39.5 sen at Wednesday’s close.

Net profit for the quarter ended Sept 30 (3QFY2024) fell 26.85% to RM19.2 million from RM26.24 million in the same quarter last year, as quarterly revenue fell 44.7% to RM94.21 million from RM170.37 million on lower EGMs sold.

For 9MFY2024, net profit slipped 4.8% to RM60.24 million from RM63.28 million in the same period last year, as revenue dropped 32.59% to RM403.9 million as compared to RM599.19 million.

Nonetheless, RGB noted that its prospects remain “robust”, bolstered by promising market conditions, especially in key areas including the Philippines.

“The Philippine Amusement and Gaming Corp has announced that the country’s gross gaming revenue in 2023 reached a record PHP285 billion and is projected to achieve PHP336 billion in 2024 with the opening of new casinos and the continuous expansion in the electronic gaming segment.

“As a pivotal slot machine distributor and major player in the machine concession business in the country, the group is well positioned to capitalise on this industry growth,” it added.

Shares in RGB ended half a sen or 1.28% higher at 39.5 sen on Wednesday, giving the company a market capitalisation of RM611.56 million.