Spring Art declares dividend of 0.5 sen a share


  • Corporate News
  • Monday, 18 Nov 2019

Spring Art co-founder and managing director Jack Lim: “The recommendation for the first interim single-tier dividend is to reward the shareholders who have put their trust in Spring Art’s initial public offering,”

KUALA LUMPUR: Ready-to-assemble furniture products designer and manufacturer Spring Art Holdings Bhd declared its first interim single-tier dividend of 0.5 sen per share for its financial year ending Dec 31,2019 (FY2019).

Its managing director Jack Lim Kok Eng said the dividend, totaling RM2.08mil will be paid on Jan 15,2020.

“The recommendation for the first interim single-tier dividend is to reward the shareholders who have put their trust in Spring Art’s initial public offering,” he added.

For the third quarter ended Sept 30,2019 (3QFY2019), Spring Art reported a net profit of RM3.05mil on the back of revenue of RM16.45mil.

For the nine-month period it posted a net profit of RM7.21mil against a RM44.15mil revenue. Earnings per share were 9.4 sen.

According to the company's prospectus, Spring Art reported a net profit of RM6.30mil and RM50.38mil revenue in FY2018.

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