Wednesday, 2 May 2012

TH Plantations up 1%, trades ex-dividend

KUALA LUMPUR (May 2) : TH PLANTATION []s Bhd rose as much as 1.2% as investors chased the stock which trades ex-dividend on Wednesday. The final lodgement date falls on Friday.

Shares of TH Plantations gained three sen to RM2.62 before trading lower at RM2.61 at 10.24am with some 230,000 shares done.

The firm plans to reward shareholders with a first and final single-tier dividend of 12.5 sen a share for financial year ended December 31, 2011. The dividend translates into a 4.8% yield based on the stock’s latest closing price.

The company said last month net profit fell 40% to RM13.07 million in the first quarter to March 31, 2012 from RM 21.83 million a year earlier due to higher cost of sales and tax expense. Revenue, however, grew 27% to RM95.05 million from RM75.06 million.

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