Malaysia's Panasonic shares soar on news of higher payout
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Kuala Lumpur
SHARES of Panasonic Manufacturing Malaysia Bhd jumped 4.6 per cent to RM23 on Friday after the home appliance maker proposed a final dividend of 35 sen and a special dividend of 92 sen per share.
The proposed payouts come on the back of an increase of nearly a quarter in net profit to RM100 million (S$35.6 million) for the fiscal year to end March from RM81 million before. Revenue also rose by RM32 million or 3.5 per cent to RM931 million, fanned by strong sales of its ceiling fans.
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