KUALA LUMPUR (July 22): Cable support system provider United U-Li Corp Bhd (KL:ULICORP) has declared a third interim dividend of two sen per share for the financial year ending Dec 31, 2024 (FY2024).

The dividend’s ex-date is Aug 5, and it is payable on Aug 28, according to the group filing with Bursa Malaysia on Monday.

This brings its year-to-date dividends to six sen per share for FY2024. The group declared a total dividend of eight sen per share in FY2023, amounting to RM17.42 million.

United U-Li recorded over a two-fold increase in net profit in 1QFY2024, mainly driven by higher revenue and higher profit margins from sales of goods, coupled with lower expenses from all its business divisions during the quarter under review.

Net profit for the three months ended March 31, 2024 (1QFY2024) rose to RM8.57 million compared to RM4.19 million a year ago. Revenue for the quarter rose 6.64% to RM60.7 million from RM56.93 million.

Shares in United U-Li have risen 31% year-to-date amid positive spillover effect from the construction stocks boom as cable support systems are widely used in buildings, manufacturing facilities and infrastructure projects.

At the closing bell on Monday, United U-Li settled seven sen or 3.29% lower to RM2.06, valuing the group at RM450.77 million.