KUALA LUMPUR (Dec 9): Hartalega Holdings Bhd (KL:HARTA) has announced a special dividend of 10.85 sen per share for the financial year ending March 31, 2025 (FY2025).

The dividend, with an entitlement date of Dec 23, will be paid to shareholders on Dec 31, according to the glove maker’s filing with Bursa Malaysia on Monday.

Last month, Hartalega declared a first interim dividend of 0.56 sen per share.

This brings the total dividend so far in FY2025 to 11.41 sen per share, compared with 0.35 sen per share for FY2024, which was the lowest in recent years amid oversupply issues and increased competition from China in the glove sector.

Hartalega's share price closed two sen or 0.53% lower at RM3.75, giving the company a market capitalisation of RM12.87 billion. The stock is offering a dividend yield of 3.04%.

The stock has risen more than 26% year-to-date, and over the past year, it has surged by over 59%.

For the second quarter of FY2025, Hartalega reported a 68.85% decline in net profit to RM8.63 million, down from RM27.7 million a year earlier, due to adverse foreign exchange fluctuations. This was despite revenue rising 44.24% to RM652.07 million on higher sales volumes.

For the first half of the year, Hartalega posted a net profit of RM40.55 million, compared with a net loss of RM24.77 million in the same period of FY2024, supported by a stronger ringgit against the US dollar, which mitigated the impact of rising selling prices and higher raw material costs. Revenue for the six months grew 38.54% to RM1.24 billion from RM892.12 million.

According to Bloomberg's market consensus, Hartalega is projected to report a net profit of RM162.67 million for FY2025, RM296.43 million for FY2026 and RM376.16 million for FY2027.