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Friday, February 18, 2011

Tasek Corp 4Q earnings surge 325pct to RM69.1m, proposes bumper dividends (Edge)

Tasek Corp Bhd posted a strong set of earnings in the fourth quarter ended Dec 31, 2010 with net profit surging 325% to RM69.1 million from RM16.25 million a year ago and it also announced bumper dividends for its shareholders.

It said on Friday, Feb 18 the much improved group results apart from the RM43.6 million gain from disposal of PLANTATION [] and other property, was mainly in line with the increase in group's total revenue compounded by better local cement sales margin. In addition, higher interest income also contributed to the better performance during the reporting quarter.

Tasek said revenue rose 15% to RM133.67 million from RM116.08 million. Earnings per share were 43.3 sen compared with 8.77 sen.

It proposed a bumper dividend, comprising of preference dividend of 6%, ordinary dividend 30% and special dividend 50%

“The proposed final dividend, if approved by shareholders at the forthcoming AGM, will be payable on June 17, 2011 to holders of ordinary shares and 6% cumulative participating preference shares whose names appear in the record of depositors as at the close of business on May 20, 2011,” it said.

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