OSK Holdings shareholders approve bonus issue, 5 sen final dividend for FY24
PETALING JAYA: Shareholders of OSK Holdings Bhd have approved a bonus issue of one bonus share for every two existing shares.
The move is intended to reward shareholders by increasing their equity stake at no additional cost, as a gesture of appreciation for their continued trust and support in the group's long-term vision.
'We have delivered resilient results driven by our diversified portfolio and long-term growth strategy. The bonus issue and higher dividend payout demonstrate our appreciation to shareholders and our confidence in the group's future prospects,' executive chairman Tan Sri Ong Leong Huat said at the company's annual general meeting and extraordinary general meeting today.
At the meetings, shareholders approved OSK Holdings' financial statements for the financial year ended Dec 31, 2024 (FY24) and endorsed key corporate proposals, including the issuance of bonus shares.
The group reported revenue of RM1.66 billion for FY24, marking a 3.75% increase from RM1.6 billion in the previous year. Profit before tax rose by 10% to RM611.4 million, up from RM555.1 million in FY23.
The improved performance was supported by stronger contributions across most business segments.
While the Industries segment recorded higher expenses, these were related to strategic investments, including the acquisition of two additional cable manufacturing plants in Johor, which is expected to enhance future production capacity once operational.
'We continue to see encouraging progress across our key segments, particularly in property and financial services. The strategic investment in expanding our industrial capabilities is also expected to support long-term growth as the new facility ramps up production.
'As we move forward, we remain focused on operational excellence and seizing growth opportunities to deliver sustained value to our shareholders,' Ong said.
The board proposed a single-tier final dividend of 5 sen per share for FY24, which was approved by shareholders, bringing the total dividend for FY24 to 8 sen.
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