MBSB proposes 3.5 sen dividend for FY2023

• For FY2023, MBSB's net profit rose 6.9% to RM491.81 million from RM460.19 million a year earlier, as lower operating income was offset by higher net other income.

KUALA LUMPUR (April 18): Malaysia Building Society Bhd (MBSB) has recommended a final dividend of 3.5 sen for the financial year ended Dec 31, 2023 (FY2023).

This would equate to a payout of RM287.78 million, based on the bank’s share base of 8.22 billion shares as at end-December 2023, according to MBSB’s bourse filing on Thursday.

Like the bank’s prior financial years, the proposed final dividend represents its sole payout for the 12-month period. 

The bank declared a record-high dividend of 8.5 sen for FY2022.

For FY2023, MBSB's net profit rose 6.9% to RM491.81 million from RM460.19 million a year earlier, as lower operating income was offset by higher net other income.

Operating income fell 31.86% to RM877.99 million from RM1.29 billion previously, while net other income rose sevenfold to RM393.43 million from RM53.26 million, thanks to a RM354 million one-off gain from the acquisition of Malaysian Industrial Development Finance Bhd (MIDF).

Its top line stood 4.7% higher at RM2.82 billion, compared with RM2.69 billion previously.

Shares in MBSB ended unchanged at 76.5 sen on Thursday, valuing the bank at RM6.25 billion.

Looking to buy a home? Discover exclusive rewards and vouchers for your dream home when you sign in to EdgeProp START.