KUALA LUMPUR: Shares of LPI Capital Bhd continue to gain ground after the company announced a dividend of 45 sen and proposed a bonus issue.
The insurer saw its shares advanced 32 sen, or 1.65% to RM19.74. The counter gained 56 sen yesterday to close at RM19.42.
LPI Capital has proposed a bonus issue on the basis of one bonus share for every five existing shares. It said the bonus issue would entail the issuance of up to 66.4 million bonus shares.
LPI also announced that it is declaring a second interim single-tier dividend of 45 sen per share, to be paid on Feb 6.
Separately, LPI announced that its net profit for its fourth quarter ended Dec 31, 2017 rose 1.9% to RM83mil from RM81.45mil previously, largely contributed by profit from the general insurance segment.
Revenue during the quarter increased to RM363.49mil from RM355.55mil a year earlier.
For its financial year ended Dec 31, 2017, meanwhile, LPI’s net profit dropped to RM313.79mil from RM437.22mil in the previous corresponding period.