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[Business Times] Masteel declares single-tier interim dividend

Masteel declares single-tier interim dividend

Business Times

KUALA LUMPUR: Integrated steel manufacturer, Malaysia
Steel Works (KL) Bhd (Masteel) has declared a single-tier interim dividend of one sen per ordinary share in respect of its financial year ending Dec 31, 2012.In a statement today, Masteel said the interim dividend will be paid to shareholders on December 10 based on its record of depositors as at November 16.”The recommendation of an interim dividend indicates our optimistic outlook for the domestic construction sector, taking our cue from the government’s fervent initiatives to boost infrastructure development and connectivity in the
country,” said its Managing director/chief executive officer Datuk Seri Tai Hean Leng.

He said the company’s strategic location within the Klang Valley and its future capacity expansion plans will provide it the opportunity to support the progressive development in Malaysia.

The group posted a revenue of RM344.1 million in the second quarter ended June 30, 2012 on the back of stronger demand for steel products coupled with improved efficiencies at its two plants in the Klang Valley.

Basic earnings per share for the quarter reviewed rose to 9.02 sen versus 7.35 sen a year ago.