CEO Morning Brief

Kenanga Investment Bank’s Dividend for FY2022 to be Paid on April 14

Publish date: Tue, 21 Mar 2023, 08:40 AM
0 23,087
TheEdge CEO Morning Brief
Kenanga Investment Bank’s dividend for FY2022 to be paid on April 14

KUALA LUMPUR (March 20): Kenanga Investment Bank Bhd (Kenanga IB) said its dividend of six sen per share in respect of the financial year ended Dec 31, 2022 (FY2022) will be paid on April 14.

Its ex-date is April 4 and entitlement date is April 5, its Bursa Malaysia filing showed.

Kenanga IB had announced its six sen dividend on Feb 24, amounting to a total dividend payable of approximately RM44.15 million based on issued and paid-up capital as at Dec 31, 2022 of 735.76 million shares.

The dividend was lower than in FY2021, when the group paid a total of 10.5 sen per share — the highest on record.

The group reported a 56.98% lower net profit of RM13.86 million in the fourth quarter ended Dec 31, 2022 (4QFY2022) from RM32.22 million a year earlier, due to several lower income contributions including brokerage fee, trading and investment, and management fee.

Quarterly revenue was also 20.62% lower at RM179.46 million in 4QFY2022 compared with RM226.08 million.

For FY2022, its net profit also fell 53.96% year-on-year to RM54.51 million from RM118.40 million in 2021, on the back of 18.89% lower revenue at RM723.09 million from RM891.49 million, resulting from lower trading volume, and trading and investment income, as well as share of loss from joint ventures, with partial mitigation from higher management fee income.

“Overall, we are cautiously positive of the outlook for Kenanga in 2023 and the group is committed to driving collaboration, innovation, digitalisation and sustainability in the marketplace to ensure continued growth in profitability and market share,” said the group on its prospects.

Its share price closed unchanged at 99.5 sen on Monday (March 20), giving it a market capitalisation of RM728.42 million.

Source: TheEdge - 21 Mar 2023

Related Stocks
Be the first to like this. Showing 0 of 0 comments

Post a Comment