KUALA LUMPUR (Nov 28): Chin Teck Plantations Bhd (KL:CHINTEK) declares a special dividend of seven sen per share plus a first interim dividend of eight sen per share for the financial year ending Aug 31, 2025 (FY2025).
Both dividends will be paid on Dec 27, with an ex-date of Dec 13 and an entitlement date of Dec 16, the plantation company’s bourse filing on Thursday showed.
The dividend announcement came prior to the conclusion of its first financial quarter ending Nov 30.
According to production updates, its September-October production declined year-on-year (y-o-y) across the board — with fresh fruit bunches (FFB) down 6.98%, crude palm oil (CPO) down 0.27% and palm kernel (PK) down 0.83%.
For FY2024, Chin Teck achieved an almost 64% rise in net profit to RM87.31 million from RM53.37 million in FY2023, as revenue increased 28.78% to RM264.86 million as compared to RM205.67 million.
The plantation group was in a net cash position of about RM429.9 million at end-August, equivalent to RM4.70 per share based on an issued share capital of 91.4 million shares.
It declared a total of 40 sen in dividends for FY2024, which included a four sen special dividend and eight sen first interim dividend paid in January 2024.
Chin Teck shares were last traded on Wednesday and closed RM8.11, valuing the group at RM744.55 million.