Farm Price declares maiden dividend since May 2024 listing

KUALA LUMPUR - Farm Price Holdings Bhd, a wholesaler and distributor based in Johor, has made history by issuing its first dividend since listing on Bursa Malaysia in May 2024. The company announced an interim dividend of 0.6 sen per share for the fiscal year ending December 31, 2026, with a total payout amounting to approximately RM2.7 million. Shareholders registered as of October 19 will receive the dividend on November 11.

Managing director Dr Lawrence Tiong Lee Chian attributed the maiden dividend to the group's confidence in its financial performance and cash flow position. He emphasized that the dividend also showcased the company's commitment to financial discipline in its operations. Tiong stated that the company aims to continue rewarding shareholders with regular dividends in the future, depending on the group's cash flow position and capital requirements.

In addition to the dividend, Farm Price has secured approvals to expand its Senai Centralised Distribution Centre by around 71,000 square feet, increasing the total built-up area to approximately 150,000 square feet. Fit-out work is currently underway, with the facility expected to commence operations in the first quarter of 2027.

The expanded center, including about 67,000 square feet of cold-room space, will be better equipped to handle growing demand in Malaysia and Singapore, boosting its capacity for pre-packed and ready-to-cook vegetables.