KUALA LUMPUR: Teo Seng Capital Bhd, whose net profit jumped 56% on year to RM10.76 million from RM6.89 in its third quarter of financial year 2014 ended Sept 30 (3QFY14), has proposed a special dividend of 5 sen per share and a bonus issue of shares and warrants, to reward shareholders.

The poultry farming company told Bursa Malaysia yesterday that the better earnings was due to higher selling prices and lower feed costs. Revenue for the quarter has also risen 19.1% on year to RM95.66 million.

For the cumulative nine-month period of FY14 (9MFY14), net profit almost doubled to RM30.65 million from RM17.69 million in 9MFY13, while revenue was up 12.8% to RM272.48 million. The 5 sen dividend proposed for the quarter, if approved, makes its total year-to-date dividend at 10 sen, significantly higher than the 1 sen declared for the same period last year.

In a separate filing, the group also proposed to issue up to 100 million bonus shares on the basis of one bonus share for every two existing shares held by its shareholders on an entitlement date to be determined later.

This article first appeared in The Edge Financial Daily, on November 12, 2014.