LBS Bina pays 4.7 sen dividend for FY2024, highest in seven years

• The property developer had previously paid a special dividend of 2.6 sen per share on December 30 last year, bringing total dividend for FY2024 to 4.7 sen per share, which is the highest since FY2017, when total dividend declared was 8.2 sen.

KUALA LUMPUR (April 11): LBS Bina Group Bhd (KL:LBS) on Friday announced  a first interim dividend of one sen per share, along with a final dividend of 1.1 sen per share, for the year ended Dec 31, 2024 (FY2024).

The property developer had previously paid a special dividend of 2.6 sen per share on December 30 last year, bringing total dividend for FY2024 to 4.7 sen per share, which is the highest since FY2017, when total dividend declared was 8.2 sen.

The interim dividend will be paid on July 10, with June 19 as the ex-date and June 20 as the entitlement date, LBS Bina said in a bourse filing.

The final dividend, meanwhile, will be paid on September 25, with August 8 as the ex-date and August 29 as the entitlement date.

LBS Bina reported a net profit of RM241.84 million for FY2024, its highest in 11 years and an increase of 64.63% from RM146.87 million in FY2023, supported by higher other income and improved margins despite a drop in revenue.

Full-year revenue declined 20.58% to RM1.43 billion from RM1.81 billion in FY2023, mainly due to project completions and lower contributions from its construction and trading segments.

For the fourth quarter, LBS Bina’s net profit fell 76.45% year-on-year to RM9.62 million from RM40.83 million, while quarterly revenue dropped 51.13% to RM287.14 million.

The sharp quarterly decline was due to the absence of one-off gains and reduced revenue as several development projects reached completion.

Shares of LBS Bina closed up half a sen or 1.15% to 44 sen on Friday, valuing the group at RM687.41 million.

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