KUALA LUMPUR (Feb 14): Luxchem Corp Bhd proposed an interim dividend of 1.5 sen per share for the fourth quarter ended Dec 31, 2017 (4QFY17) in conjunction with the industrial chemicals supplier's earnings announcement.

In filings with Bursa Malaysia today, Luxchem said the interim dividend brings the full-year payout to four sen a share.

"The board of directors of the company is pleased to announce an interim dividend of 1.5 sen per share under the single tier system for the financial year ended Dec 31, 2017. The dates of entitlement and payment in respect of the interim dividend will be determined and announced in due course," Luxchem said.

Luxchem's proposed its dividend despite reporting lower net profit. Luxchem said 4QFY17 net profit dropped to RM9.49 million from RM13.51 million a year earlier. Revenue was however higher at RM197.2 million against RM186.37 million.

For the full year, the group said net profit declined to RM40.75 million from RM43.5 million a year earlier. Revenue increased to RM806.68 million from RM701.55 million.

Luxchem's latest reported net assets per share stood at 31 sen. At 12:30pm, Luxchem shares settled at 77.5 sen with 135,500 units traded.