Gamuda Bhd has for the first time (The financial year 2021) failed to declare annual dividends but intends to resume paying dividends in the current financial year ending July 31, 2022 (FY22).
Analysts from CGS-CIMB Securities Sdn Bhd say the company had to contend with the impact of COVID-19, the movement control order that has also impacted the construction and property development sectors in general.
The group intends to resume normal dividends of 12 sen a share in FY22, or a dividend yield of 3.8%, The Edge reports.
On the other hand, Gamuda, in a statement to Bursa Malaysia, says its cumulative net profit rose to RM588.32 million in FY21 from RM376.5 million a year earlier although revenue was lower at RM3.52 billion versus RM3.66 billion.
