MR DIY Group (M) Bhd chief executive officer Adrian Ong.
PETALING JAYA: MR DIY Group Bhd is set to declare a 77.7% dividend payout ratio for the third quarter ended Oct 31 (3Q24), representing a 25.2% year-on-year (y-o-y) improvement.
The group said the dividend payout of RM94.5mil is equivalent to a payout ratio of 77.7% of net profit for the quarter. Total cumulative dividends for the nine months (9M24) stood at RM302.5mil, equivalent to 71.7% of net earnings payout.
MR DIY’s chief executive officer Adrian Ong said the dividend payout reflects the group’s commitment to rewarding its shareholders with consistent and sustainable returns.
“The higher payout, significantly above our 50%-65% target, underscores the underlying strength and resilience of our business, and our confidence in our long-term growth,” he said.
While 3Q24 net profit was down 1.9% y-o-y to RM121.6mil, group revenue rose to RM1.1bil, led by contributions from new stores, while transaction volumes for the same period rose 9% to 45.3 million.
The group’s store network grew 15% y-o-y to 1,389 stores over the first nine months of 2024.
Cumulatively up to September however, net earnings rose 4.9% y-o-y to RM421.7mil, driven by an increase in turnover of 8.1% to RM3.47bil.
