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SHAH ALAM: Unitrade Industries Bhd has proposed a first and final single-tier dividend of 0.82 sen per share.

The building materials wholesalers and distributors said the dividend is subject to shareholders’ approval at the forthcoming annual general meeting to be held at a later date.

“It has been more than a month since we got listed on Bursa Malaysia and we are grateful to our shareholders for their support. As such, the Board has decided to propose a first and final dividend of 0.82 sen per share to reward our shareholders.

“This translates into a dividend payout of 30% or RM12.8mil in absolute value, which is aligned with our dividend policy to distribute up to 30% of our profit after tax and minority interest,” managing director Nomis Sim Siang Leng said.

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He added that Unitrade remained cautiously upbeat on the building materials industry as the Government has just given reassurance that mega projects such as the Mass Rapid Transit Line 3 (MRT3), East Coast Rail Link (ECRL) and Pan Borneo Highway will proceed as planned.

“At the same time, we are also cognizant of the macroeconomic headwinds the country faces. On our end, we continue to exercise prudence in our business expansion strategy. We are kept occupied implementing plans as per the utilisation of proceeds under our listing exercise,” Sim said.

Unitrade closed up one sen, or 3.92% at 26 sen.