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PETALING JAYA (Sept 22): Land & General Bhd shareholders have approved a single-tier final dividend of 0.8 sen per share for the financial year ended March 31, 2026 (FY2026), along with a mandate for the company to buy back up to 10% of its issued shares.
In a Bursa Malaysia filing on Tuesday (Sept 22), the property developer said the dividend resolution received 99.9971% of the votes cast at its 63rd annual general meeting.
The RM23.79 million final dividend will be paid on Oct 16 to shareholders whose names appear in the record of depositors on Oct 2.
Together with the interim dividend of 0.2 sen per share paid on May 7, L&G’s total dividend for FY2026 amounts to one sen per share, or RM29.73 million. This represents about 58.9% of its RM50.46 million profit attributable to shareholders for the year and is higher than the 0.8 sen per share distributed for FY2025.
The share buy-back mandate allows L&G to acquire or hold up to 10% of its issued shares, subject to the Companies Act 2016, Bursa Malaysia’s listing requirements and the availability of retained earnings.
Shareholders also authorised the directors to allot new shares representing up to 10% of L&G’s issued shares. The resolution received the lowest level of support among the nine motions tabled but was nevertheless approved with 99.804% of the votes cast.
Both mandates will remain valid until the company’s next annual general meeting, unless revoked or varied earlier by shareholders.
The remaining resolutions were also passed, including the re-election of three directors, the reappointment of KPMG PLT as auditor, directors’ fees of RM608,250 and meeting allowances of up to RM135,000 for non-executive directors.
For FY2026, L&G’s revenue rose to RM490.52 million from RM287.58 million a year earlier, while profit attributable to shareholders increased to RM50.46 million from RM36.37 million. Property development contributed RM436.94 million, or 89.1%, of group revenue.
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