MK Land declares 1 sen dividend for FY15

KUALA LUMPUR (Mar 25): Property developer MK Land Holdings Bhd has declared a first interim single tier dividend of 1 sen per share for the financial year ending June 30, 2015, to reward its shareholders.

In its filing with the bourse, MK Land (fundamental: 1.6; valuation: 3) said its shares will trade ex-dividend on April 7. The dividend is payable on April 23.

In its latest quarterly results, MK Land reported a 4% fall in its net profit to RM13.22 million for the second quarter ended Dec 31, 2014 (2QFY15), from RM13.81 million a year earlier, on the back of an 18% decline in revenue to RM115.35 million, from RM140.45 million.

Meanwhile, for the first half of its financial year (6MFY15), net profit was up 8% at RM20.82 million, from RM19.27 million in 6MFY14; while revenue fell 14% to RM222.33 million, from RM259.24 million.

MK Land closed unchanged at 42 sen, with a market capitalisation of RM505.93 million.

(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.)