The share price of Kuala Lumpur Kepong Bhd (KLK) opened about 1% higher on Bursa Malaysia after shares of the oil palm plantation company traded ex-dividends today.
At 9.00am, KLK shares rose 18 sen or 0.92% to RM19.66 from the share price when it closed at RM19.48 yesterday.
The counter jumped 20 sen or 1.03% to RM19.68 before remaining traded at RM19.66 in this morning's trading session.
At the RM19.66 level, KLK gained a market capitalization of RM21.25 billion with 22,700 shares traded.
On May 19, KLK also said on Bursa that the company was planning to pay a dividend of 20 sen per share.
KLK's net profit increased 18 -fold in the second quarter ended March 31, 2021 to RM490.44 million from RM27.89 million in the same period last year.
The increase in net profit was driven by higher commodity prices and strong income from the manufacturing and real estate segments.
KLK's quarterly revenue increased by 18.53% to RM4.51 billion from RM3.81 billion previously.
For the first half ended March 31, 2021, net profit quadrupled to RM847.85 from RM195.09 million last year.
KLK's revenue also increased 11.76% to RM8.81 billion from RM7.88 billion.
