KUALA LUMPUR (Dec 26): CCK Consolidated Holdings Bhd (KL:CCK), a retail chain store and supermarket operator in Sabah and Sarawak, has declared its first-ever special dividend of five sen per share for the financial year ending Dec 31, 2024 (FY2024), payable Jan 22, 2025.
The special interim dividend is also the highest ever declared over the past 11 years. Based on its weighted average number of shares of 621 million, the dividends amount to some RM31.05 million.
On Sept 12, CCK sold a 40% stake in its Indonesian frozen food subsidiary, PT Adilmart, to Astrantia Sdn Bhd, a special-purpose vehicle of a fund advised by private equity firm Creador, for RM163.1 million.
Pertaining to the transaction, CCK on Dec 23 said it has received the first and second tranches of payment which totalled RM148.1 million.
As of end-September, CCK was in a net cash position of RM69.52 million, with cash and bank balances amounting to RM117.91 million and bank borrowings of RM48.39 million. The proceeds from the PT Adilmart disposal would increase its net cash position to RM217.62 million.
For its third quarter ended Sept 30, 2024 (3QFY2024), CCK’s net profit rose 17% to RM23.34 million from RM19.98 million, due to strong performance from its poultry segment, as well as improved profitability from the prawn and retail segments. Quarterly revenue rose 3% to RM259.51 million from RM251.65 million in 3QFY2023.
For the nine-month period (9MFY2024), CCK’s net profit surged 21.9% to RM64.48 million from RM52.9 million a year ago, while revenue rose 7.1% to RM791.79 million from RM739.37 million in 9MFY2023.
Shares of CCK closed four sen or 2.6% higher at RM1.55 on Thursday, giving it a market capitalisation of RM978 million. The stock has gained 86.7% year-to-date.