Kim Loong shares rise after dividend announcement
26/12/2017 (The Star Online) - KUALA LUMPUR: Shares in Kim Loong Resources Bhd
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rose in early trade on Monday after the the company declared a special single tier dividend of 6 sen per share.
The stock rose 7.95%, or 33 sen to RM4.48. The counter rose to its highest in at least five years at RM4.63 in late October. Year-to-date, it has risen some 40%.
Kim Loong posted an 11.18% increase in net profit for the third quarter ended Oct 31, 2017 to RM27.92mil from RM25.11mil on higher production and palm oil prices.
Its quarterly revenue grew 16.65% to RM289.42mil compared to RM248.1mil a year ago.
The group has declared a special single tier dividend of 6 sen per share in respect of financial year ending Jan 31, 2018 (FY18), payable on Feb 7.