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.

Some 48 per cent owned by Panasonic Management Malaysia Sdn Bhd, the company's proposed total dividend payout of RM1.42 per share - it paid an interim dividend of 15 sen - is 69 sen more than in FY14. Even so, shareholders received more in FY13 when it paid out a bumper RM1.88 per shar…