KUALA LUMPUR (April 17): Integrated facilities management service provider GFM Services Bhd has proposed a final dividend of 1.445 sen per share for financial year ended Dec 31, 2016 (FY16).

In a statement today, GFM said the proposed dividend payout will amount to a total of RM6.2 million and is subject to shareholders’ approval.

It added that the proposed dividend payout represents 47% of the group’s FY16 net profit of RM13 million. "This dividend payout ratio is in line with GFM’s dividend policy to distribute at least 40% of its net profit."

“This is our maiden dividend since being listed on the ACE Market of Bursa Malaysia. The group has performed well in FY16 and we are delighted to reward our shareholders for their support in the group’s growth prospects," GFM managing director Ruslan Nordin said in the statement.

"We hope to grow from strength to strength and continue to bring sustainable returns to our shareholders, moving forward,” he added.

GFM shares closed up 2.5 sen or 3.91% at 66.5 sen today, with 5.28 million shares done. Its market capitalisation stood at RM284.69 million.