KUALA LUMPUR (March 26): Gas Malaysia Bhd (KL:GASMSIA) has announced a final dividend of 10.28 sen per share, payable on June 26, 2025, following a 15.12% increase in its annual net profit to RM441.39 million for the financial year ended Dec 31, 2024.

In a bourse filing on Wednesday, the final dividend, totalling RM131.995 million, will be distributed based on the company’s 1.28 billion ordinary shares. 

This brings the total dividend for FY2024 to 26.19 sen per share, up from 22.76 sen per share distributed in FY2023. 

Despite a slight dip in revenue to RM8.04 billion due to lower average natural gas selling prices, the company’s net profit for the full fiscal year grew to RM441.39 milion or 34.38 sen per share, from RM383.4 million or 29.86 sen per share in the previous year.

The latest dividend brought its payout ratio to 76.2%, in line with FY2023.

Gas Malaysia previously declared a second interim dividend of 9.6 sen per share, amounting to RM123.26 million, payable on April 25, 2025. Prior to that, it paid out 6.31 sen per share in October.

For the fourth quarter ended Dec 31, 2024 (4QFY2024), the company reported a net profit of RM112.71 million, up from RM104.33 million in the same quarter a year earlier. Revenue for the quarter grew 14.12% to RM2.06 billion, compared to RM1.8 billion in 4QFY2023.  

On a per-share basis, earnings for 4Q rose to 8.78 sen from 8.13 sen in the previous year. 

At the closing bell, Gas Malaysia closed one sen or 0.2% higher at RM4.15, valuing the group at RM5.33 billion.