KUALA LUMPUR (Aug 30): AirAsia Bhd rose as much as five sen or 2% after the budget airline declared a dividend of 12 a share in conjunction with its second quarter results announcement.

AirAsia shares rose to their highest so far today at RM3.38. At 9:48am, the stock was traded at RM3.35 with some nine million units traded. AirAsia was Bursa Malaysia's sixth most-active entity.

Yesterday, AirAsia said the ex and payment dates for its 12 sen dividend are on September 13 and October 16 this year respectively.

AirAsia also said net profit fell to RM92.45 million in the second quarter ended June 30, 2017 (2QFY17) from RM342.12 million a year earlier while 1HFY17 net profit was lower at RM762.4 million versus RM1.22 billion a year earlier.

Today, CIMB Investment Bank Bhd analyst Raymond Yap said AirAsia's 1HFY17 core net profit at RM441 million made up 48% of CIMB's full-year forecast.

Yap said AirAsia's 1HFY17 core net profit "was in line with expectations, since 2H is seasonally stronger." He said CIMB maintained its AirAsia share target price at RM3.51 with an unchanged "add" call.

http://www.theedgemarkets.com/article/airasia-rises-12-sen-dividend