Radium declares first dividend after strong earnings

KUALA LUMPUR: Radium Development Bhd, a property developer in the Klang Valley, has declared a first single-tier interim dividend to its shareholders following a year of exceptional earnings growth and strategic accomplishments.

Radium’s declaration of a first single-tier Interim dividend of 1 sen per ordinary share for the financial year ending on Dec 31, 2024, reflected the company’s robust revenue growth and unwavering commitment to delivering value to its shareholders.

Radium reported an unaudited profit before tax (PBT) of RM19.8 million for the full fiscal year FY23, showcasing the company’s ability to generate substantial earnings amidst a competitive market landscape.

Maintaining a low gross gearing ratio of 0.05 times underscores Radium’s prudent financial management practices and solid financial foundation, positioning the company for sustained growth and stability in the property development sector.

Radium’s strategic land acquisition at Old Klang Road and successful project launches such as Vista Adesa @ Desa Timur and Radium Adesa @ Desa East Residences have been pivotal in driving growth and enhancing shareholder value.

There were high take-up rates for Vista Adesa and Radium Adesa projects, at 60% and 78% respectively, demonstrating strong market demand and confidence in Radium’s developments.

The alignment of the Vista Adesa project with the government’s homeownership strategy, supported by the Housing Credit Guarantee Corporation loan programme, highlighted Radium’s strategic partnerships and commitment to providing accessible property solutions.

Furthermore, Radium’s collaboration with MyCharge EV Sdn Bhd to integrate electric vehicle chargers in its developments showcased the company’s dedication to environmental sustainability and innovation.

Radium Development Bhd group managing director Datuk Gary Gan Kah Siong said, “Our strong earnings growth and strategic investments have enabled us to not only meet our commitments but also reward our shareholders for their continued support.”