KUALA LUMPUR (Feb 21): Shares of TASEK CORPORATION BHD [] jumped in early trade on Friday after the company decided to reward shareholders with dividends totaling 86%.
At 9.08am, it was up 66 sen to RM8.66. There were 14,100 shares transacted.
The FBM KLCI rose 8.98 points to 1,559.47. Turnover was 151.41 million shares done valued at RM69.93 million. The broader market was firmer, with gainers leading losers 251 to 32.
Tasek announced on Thursday its earnings fell 57.1% to RM33.44 million in the fourth quarter ended Dec 31, 2011 from RM78.00 million a year ago, due to higher production costs.
Despite the lower earnings, it declared dividends totaling 86%. They comprised of a special ordinary dividend of 50% less income tax of 25%; preference dividend of 6% single tier and final ordinary dividend of 30% single tier.
At 9.08am, it was up 66 sen to RM8.66. There were 14,100 shares transacted.
The FBM KLCI rose 8.98 points to 1,559.47. Turnover was 151.41 million shares done valued at RM69.93 million. The broader market was firmer, with gainers leading losers 251 to 32.
Tasek announced on Thursday its earnings fell 57.1% to RM33.44 million in the fourth quarter ended Dec 31, 2011 from RM78.00 million a year ago, due to higher production costs.
Despite the lower earnings, it declared dividends totaling 86%. They comprised of a special ordinary dividend of 50% less income tax of 25%; preference dividend of 6% single tier and final ordinary dividend of 30% single tier.
