Quick take: MMC shares up 5% after dividend announcement

  • Stock on the Move
  • Monday, 13 Apr 2020

KUALA LUMPUR: Shares in MMC Corp Bhd rose in early trade Monday following its dividend announcement.

The diversified group rose 5.74%, or 3.5 sen to 64.5 sen with over 4.76 million shares traded.

MMC Corp has proposed a final dividend of 4.5 sen a share for the financial year ended December 31, 2019 (FY19).

MMC Corp said the final dividend of 4.5 sen per share amounts to a payout of RM137.03mil.

The entitlement dates and payment dates for the dividend fall on June 3 and June 26 respectively.

For the full financial year ended Dec 31, 2019, MMC Corp’s net profit rose 16% to RM255.17mil, from RM220.08mil a year ago. Its revenue fell 5% to RM4.72bil from RM4.98bil.

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