KUALA LUMPUR: Magnum Corp Bhd is finally set to proceed with its long-expected capital management plan as it may soon announce a bumper payment to shareholders.
A source said the company, subject to board approval at a meeting on Tuesday, could announce a special dividend of between 60 and 70 sen a share.
The board may give the go-ahead for the numbers forecast operator (NFO) to distribute its vast cash pile of more than RM700mil.
Last year, Magnum raised its dividend to 14 sen a share from 10 sen. The return of cash will benefit shareholders and none more greatly than Multi-Purpose Holdings Bhd (MPHB), which owns 51% of Magnum.
The cash from Magnum may help MPHB pare down debt but the source said MPHB also had a good story to tell.
MPHB, the source said, was set to announce a record profit for its first quarter ended March 31, thanks to Magnum's strong NFO business and a robust stockbroking business owing to the bull run on Bursa Malaysia.
MPHB announced a pre-tax profit of RM86.4mil and a net profit of RM60.5mil, or 6.3 sen a share, for its fourth quarter.
A source said the company, subject to board approval at a meeting on Tuesday, could announce a special dividend of between 60 and 70 sen a share.
The board may give the go-ahead for the numbers forecast operator (NFO) to distribute its vast cash pile of more than RM700mil.
Last year, Magnum raised its dividend to 14 sen a share from 10 sen. The return of cash will benefit shareholders and none more greatly than Multi-Purpose Holdings Bhd (MPHB), which owns 51% of Magnum.
The cash from Magnum may help MPHB pare down debt but the source said MPHB also had a good story to tell.
MPHB, the source said, was set to announce a record profit for its first quarter ended March 31, thanks to Magnum's strong NFO business and a robust stockbroking business owing to the bull run on Bursa Malaysia.
MPHB announced a pre-tax profit of RM86.4mil and a net profit of RM60.5mil, or 6.3 sen a share, for its fourth quarter.
1 comment:
Hi,
I think all bloggers who are patriotic Malaysian should highlight the
discrminative policy of Mayban (and AmBank).
Maybe all right thinking Malaysian should be asked to seriously
consider whether they want to continue banking with such a Bank.
Should we not make out voices heard loud and clear. Should we not
seriously consider withdrawing all our monies from Mayban (and
AmBank), cut their credit cards into two and returned to them, turn
down all their offer of banking facilities and switch our banking
facilities to banks which do not practise discriminative policies?
Should we not deliver this strong message to Mayban (and AmBank) in
such a loud voice to be heard also by others who are practising or
intend to practise discriminative policies - so they will stop such
disgusting policies?
Think about it and let all of us who belong to the group of right
thinking Malaysian highlight and create an action group to fight
discriminative policies being practice by any parties.
Consider pls!!!!!
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