Hengyuan surges 20pct as dividend returns
KUALA LUMPUR: Hengyuan Refining Company Bhd shares surged nearly 20 per cent in morning trade on Tuesday after the oil refiner resumed dividend payments following a four-year hiatus, underpinned by a sharp turnaround in earnings.
Hengyuan Refining Company Bhd shares surged nearly 20 per cent in morning trade on Tuesday following the oil refiner's resumption of dividend payments after a four-year absence. This surge was driven by the company's strong financial performance, as it reported its strongest quarterly profit since 2022, with a net profit of RM600.54 million in the second quarter of FY26.
The stock opened at RM2.35, up 20.51 per cent from its previous close, and later traded as high as RM2.40, marking a 23.08 per cent increase. At the time of writing, Hengyuan was trading at RM2.34, reflecting a 20 per cent gain, making it one of the notable gainers on Bursa Malaysia.
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