Property developer LBS Bina Group Bhd said its shareholders have approved the first and final dividend of 2.5 sen per share for the financial year ended Dec 31, 2012 (FY12).

Managing director Datuk Lim Hock San said the company was able to reward its shareholders with the dividend as a result of the group's consistent performance.

The dividend payment translated into a pay-out ratio of about 26 per cent of the company's net profit for the year, he said in a statement today.

For FY12, LBS Bina recorded a higher revenue of RM139.306 million, a 20 per cent increase from the previous year.

The group also surpassed its 2012 sales target, recording a total of RM871 million, representing a 32 per cent jump compared with RM662 million sales registered in 2011.

The better performance was attributed to the progressive recognition of revenue and profit contribution from its projects, which enjoy good take up rates.

The projects include D'Island Residence and The Lake Residence in Puchong, Selangor; Cameron Golden Hills and Brinchang Square in Cameron Highlands, Pahang; and Min Garden in Batu Pahat, Johor.-- Bernama