Century Bond soars 13% on 23 sen dividend

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KUALA LUMPUR (Aug 28): Century Bond Bhd soared as much as 19 sen after the packaging products manufacturer proposed total dividends of 23 sen a share.

At 10.45am, Century Bond (fundamental: 2.05; valuation: 2.4) was traded at RM1.62 with 571,400 shares transacted. The stock was the eighth-largest gainer across the bourse.

At RM1.62, the counter has a market capitalisation of RM194.4 million.

Yesterday, the company declared a special dividend of 20 sen a share for current financial year ending March 31, 2016 (FY16). The company also proposed a final dividend of three sen a share for FY15.

Both dividends' ex-date falls on this Sept 10. Century Bond proposed the dividends after reporting higher net profit during 1QFY16 from a year earlier.

During the quarter, net profit increased to RM3.07 million from RM2.94 million. This was despite revenue falling to RM41 million from RM42.24 million

(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)