Tambun Indah declares 5.9 sen dividend for FY21

KUALA LUMPUR (July 20): Tambun Indah Land Bhd on Tuesday (July 19) declared a first and final dividend of 5.9 sen per share for the financial year ended Dec 31, 2021 (FY21). 

The dividend, with an ex-date of Aug 24, will be paid on Sept 12, according to the Penang-based property developer’s filing with Bursa Malaysia. 

Tambun Indah saw its net profit jump 141% to RM61.6 million in FY21, up from RM25.59 million a year earlier. The stronger earnings were mainly due to higher new property sales attributed to the Home Ownership Campaign 2021.

The group’s revenue also surged 93.61% to RM255.88 million in FY21, as compared to RM132.16 million a year before.

Tambun Indah’s share price closed up 1.5 sen or 1.84% at 83 sen on Tuesday, giving it a market capitalisation of RM364.63 million. The counter is currently trading at a historical price-earnings ratio of 5.4 times.