Huang Hsiang Construction Corp (皇翔建設) has proposed a record-high cash dividend after net profit last year hit the highest in nine years at NT$2.45 billion (US$85.59 million).
With earnings per share of NT$7.46, the company plans to pay a cash dividend of NT$6.3 per share, or a payout ratio of 84.45 percent. It suggests a yield rate of 13.86 percent, based on yesterday’s closing price of NT$45.45 for Huang Hsiang shares.
Consolidated revenue last year amounted to NT$7.85 billion, boosted by residential projects in Taipei and New Taipei City, the company said.
Photo: CNA
URBAN RENEWAL
The company is seeking to undertake urban renewal projects, as such projects are not affected by credit controls and idle land supply becomes increasingly scarce in popular locations in Taipei and New Taipei City.
Huang Hsiang has won five urban renewal projects, with one in New Taipei City’s Banciao (板橋) and another one in Sinjhuang (新莊) that would be completed next year and in 2024 respectively.
Furthermore, Huang Hsiang is to begin building a mixed-use complex later this year on a plot of 3,055 ping (10,000m**2**) in New Taipei City's Tucheng District (土城), it said.
In related developments, Highwealth Construction Corp (興富發) on Tuesday said that its profit last year grew more than twofold to NT$8.19 billion, or earnings per share of NT$6.45.
The company said it plans to issue NT$2 billion of debt to boost its operations.
Highwealth has been buying plots for property development, spending NT$26.6 billion last year on land purchases.
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