KUALA LUMPUR (Apr 22): Hong Leong Industries Bhd rose as much as 18 sen or 3.75% following its announcement of a 17 sen per share dividend, which came along with the diversified group's improved earnings.
Hong Leong Industries (fundamental: 1.7; valuation: 1.8) rose to its highest so far today at RM4.98.
At 12.30pm, Hong Leong Industries pared gains to settle at RM4.95 with 290,200 shares done. The stock was the second-largest gainer across the exchange.
At RM4.95, the company is valued at RM1.58 billion.
Yesterday, the group declared a second interim tax-free dividend of 17 sen per share for financial year ending June 30, 2015 (FY15). The shares will trade ex-dividend on May 7 this year.
Hong Leong Industries, with business including ceramic tile and semiconductor production, had reported better financials.
Net profit rose to RM46.03 million in the third financial quarter ended March 31, 2015 (3QFY15), from RM45.84 million a year earlier. Revenue climbed to RM551.05 million from RM506.28 million.
For 9MFY15, net profit increased to RM129.82 million versus RM124.02 million in the previous corresponding period. Revenue was up at RM1.61 billion from RM1.52 billion.
(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.)