PETALING JAYA: Dutch Lady Milk Industries Bhd has announced a bumper dividend of RM1.30 for its fourth-quarter ended Dec 31, 2012 (4Q12), compared to the 37.5 sen paid during the same period last year.
In an exchange filing yesterday, the company said the dividend includes a single-tier special interim dividend of 80 sen per share on top of a single-tier dividend of 50 sen per share of RM1 each in respect of the financial year ending Dec 31, 2013 (FY13).
Dutch Lady, however, did not give reasons for the bumper dividend. For the full year, Dutch Lady announced a dividend of RM2.60 compared to the dividend of 72.5 sen per share declared last year.
For the 4Q, Dutch Lady’s net profit increased 19.2% to RM33.83 million from the RM28.37 million recorded in the 4Q11 attributable to the higher revenue for the quarter and favourable sales mix.
Its revenue in the same quarter increased 6.8% to RM225.79 million from the RM211.4 million recorded in the same period a year ago.
“This was mainly due to strong sales of the company’s powder and liquid milk products coupled with new product introductions such as chocolate drink in powder format and new mid-premium growing-up milk powder, Dutch Lady Activ- Gold,” it said.
For the 12 months, Dutch Lady’s net profit increased 14.2% to RM123.38 million against the RM108.08 million recorded in FY11, mainly contributed by the higher revenue and favourable sales mix due to the exit of its low margin creamer business.
Its revenue was up 8.8% to RM882.18 million from the RM810.65 million recorded previously.
“Despite the recent increasing trend of dairy raw material prices, the board of directors of the company is cautiously optimistic on its 2013 financial year performance given the strength of its Dutch Lady brand and strong market position,” it said.