UEM Edgenta declares eight sen interim dividend

KUALA LUMPUR: Total asset solutions player, UEM Edgenta Bhd (UEM Edgenta), has declared an interim dividend of 8.0 sen per ordinary share on the back of RM1.62 billion in revenue posted for the six months ended June 30, 2017 (H1 2017).

The interim dividend of 8.0 sen per ordinary share which will amount to an aggregate payment of RM66.5 million, will be paid to shareholders on September 20, 2017.

“The healthy dividend declared follows a healthy revenue and profit before tax posted for H1 2017 which was RM1.63 billion versus RM1.35 billion in the corresponding period last year and RM93.8 million compared with RM10.3 million recorded for the same period in 2016, respectively,” it said in a statement.

The 8.0 sen per ordinary share declared represented a payout ratio of 122 per cent and exceeded the company’s dividend payout of 7.0 sen paid in FY2016. It also exceeded its dividend policy of distributing up to 70 per cent of profit after tax and non-controlling interest (PATANCI).

UEM Edgenta Managing Director/Chief Executive Officer Datuk Azmir Merican said: “The interim dividend declared showcases our promise in ensuring good returns to shareholders and we are committed to dividend payout as we have in the past.”

For the second quarter 2017 (2Q2017), UEM Edgenta recorded a revenue of RM858.9 million, an 11.7 per cent increase or RM89.9 million, versus the preceding quarter’s RM769.0 million. The contributing factor for this increase was higher contribution from its divisions. — Bernama SHORT-TERM interbank rates closed steady yesterday on Bank Negara Malaysia’s (BNM) intervention to absorb excess liquidity from the financial system.

The liquidity surplus in the conventional system fell to RM26.30 billion from RM32.07 billion in the morning, while in THE Malaysian rubber market closed lower yesterday in tandem with the downtrend on the regional rubber futures markets, said a dealer.

The dealer said the Tokyo Commodity Exchange (TOCOM) rubber futures slipped yesterday, weighed down by an overnight