Malakoff declares final dividend of 2.45 sen for FY2022

KUALA LUMPUR (April 10): Malakoff Corp Bhd has declared a final dividend of 2.45 sen per share for the financial year ended Dec 31, 2022 (FY2022), after its fourth quarter net profit more than doubled year-on-year.

The dividend will be paid on May 26, the power producer said in a bourse filing.

This brings Malakoff’s total dividend payment for the year to 5.25 sen per share, compared with 5.10 sen for FY2021.

The group reported a net profit of RM41.86 million for 4QFY2022, compared with RM15.08 million in 4QFY2021, thanks to higher energy payment from its Tanjung Bin power plant on the back of higher applicable coal price.

Quarterly revenue grew 53% to RM2.97 billion from RM1.94 billion.

For the full year, net profit rose 20% to RM255.03 million from RM213.22 million in FY2021, while revenue grew 60% to RM10.36 billion from RM6.46 billion.

Shares of Malakoff closed 0.74% or half sen higher at 68.5 sen, giving the group a market capitalisation of RM3.43 billion.