Harrisons to return RM34.25m to investors

The special interim gross dividend, equivalent to 50 sen a share, will go ex on September 20 and the entitlement date is October 13.

Read more: Harrisons to return RM34.25m to investors http://www.btimes.com.my/articles/harryson/Article/#ixzz1X3Urq1kY

Kuala Lumpur: Harrisons Holdings (M) Bhd, a consumer goods distributor, plans to return RM34.25 million to its shareholders as a special interim gross dividend, equivalent to 50 sen a share. The dividend will go ex on September 20 and the entitlement date is October 13. Harrisons, which also has shipping and warehousing business, had some RM114 million in cash at the end of last year and debts of about RM35 million. For the financial year ended December 31 2010, Harrisons' revenue expanded 12 per cent to RM1.18 billion from the year before. During the period, it made a net profit of RM37 million, almost a quarter more than 2009. In May, CIMB Research valued Harrisons at RM6.49 a share, reflecting the company's growth prospects, while in late June, Harrisons group managing director Chan Poh Kim said the company was looking at the possibility of returning some of the money to shareholders. Harrisons share prices on Bursa Malaysia closed 9 sen higher at RM3.40 just before the Hari Raya break.