Quick take: MHC Plantations shares up 10% after dividend announcement

According to the stock exchange filing, the project will be close to retail amenities such as Sunway Giza, Sunway Nexis and Ikea Damansara as well as education institutions including Sri KDU and SEGi University, and Thomson Hospital.

KUALA LUMPUR: Shares in MHC Plantations Bhd were on a tear in Thursday’s early session following its dividend announcement.

One of the top gainers on Bursa Malaysia, MHC rose 10.17%, or six sen to 65 sen. The counter has fallen some 9.8% in the past one year.

MHC announced that a final single tier dividend of 1.5 sen per share has been proposed for the financial year ended Dec 31, 2018.

The company said the final dividend was subjected to shareholders' approval at its forthcoming annual general meeting.

For the financial year ended Dec 31, 2018, MHC posted a net profit of RM4.4mil, against RM16.9mil in the same period last year.

Its revenue for the period stood at RM343.5mil compared with RM390.2mil a year earlier.

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