Malaysia's Panasonic shares soar on news of higher payout
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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Nestle sales growth sputters on US slump, vitamin snags
BNP Paribas beats estimates as lower costs offset trading slump
TikTok ultimatum puts US firms in firing line for China response
Toyota and Nissan pair up with Tencent and Baidu for China AI arms race
BHP targets Anglo American in bid valuing miner at US$39 billion
FTSE 100 hits record high on big mining M&A, earnings push