KUALA LUMPUR (April 25): Timber products manufacturer Minho (M) Bhd has issued a special share dividend on the basis of one treasury share for every 100 existing ordinary Minho shares.

In a filing with Bursa Malaysia today, Minho said the entitlement date of the special share dividend is May 11, 2016 and the payment date is May 25, 2016.

The ex-date of the issuance is May 9, 2016.

Minho is primarily involved in the manufacturing and exporting of moulded timber and timber related products.

It is also involved in kiln drying and chemical services for tropical hardwoods as well as property development.

According to its latest financial results, Minho saw its net profit decline 76.98% to RM459,000 or 0.42 sen per share from RM1.99 million or 1.82 sen per share in the fourth quarter ended Dec 31, 2015 (4QFY15) on a significant decline in turnover from its timber extraction, manufacturing and property development segments.

Revenue increased 9.58% to RM71.25 million in 4QFY15 from RM65.02 million in 4QFY14 mainly due to contributions from its timber trading and property development segments.

For the full year ended Dec 31 (FY15), Minho recorded a near three-fold (200.52%) increase in net profit to RM17.43 million or 15.81 sen per share from RM5.8 million or 5.28 sen per share in FY14 on increase in profits across all its segments —- timber trading, manufacturing, services and treatment as well as timber extraction — except the property development segment which posted a decline in profit.

Revenue increased 17.55% to RM280.47 million in FY15 from RM238.6 million in FY14 on increase in revenue across all its segments.