Multi-Chem, whose main business is in the distribution of IT products, has announced earnings of $13.4 million for 2HFY2021 ended Dec 2021, up 28% y-o-y. Revenue in the same period was up 20% y-o-y to $305.1 million, as it enjoyed better business.
For the full year, the company reported earnings of $25 million, up 40% y-o-y, on the back of the 26% increase in revenue to $603.6 million.
Multi-Chem, which has already paid an interim dividend of 4.2 cents per share, plans to pay a final dividend of 6.9 cents, bringing full year total to 11.1 cents.
Based on Feb 18 closing price of $1.84, that translates into a yield of 6%.
In contrast, Multi-Chem, which has a smaller business making printed circuit boards, paid a total of 6.6 cents for FY2020.
As at Dec 31 2021, the company’s net asset value was 144.51 cents per share, versus 127.12 cents per share as at Dec 31 2020.
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Multi-Chem’s share price has gained 2.79% year to date.
