KUALA LUMPUR (Dec 8): Riverview Rubber Estates Bhd has declared a total dividend of 18 sen after reporting a strong set of results for the third quarter ended Sept 30, 2017.

The group’s net profit for the quarter rose 55.34% to RM4.58 million from RM2.95 million a year earlier. Earnings per share rose to 7.06 sen from 4.55 sen.

Quarterly revenue went up 40.08% to RM11 million from RM7.86 million.

In a filing with Bursa Malaysia, Riverview said it has proposed an interim dividend of eight sen and a special dividend of 10 sen, payable on Jan 19. 2018. The ex-date is Dec 27 and entitlement date is Dec 29.

Riverview said its net profit grew primarily on higher revenue and a RM1.5 million gain from the disposal of marketable securities.

For the cumulative nine-month period, net profit surged 164.23% to RM15 million, from RM5.68 million a year ago. Revenue rose 48.84% to RM33.03 million from RM22.19 million.

Riverview’s share was last traded at RM3.60, for a market capitalisation of RM233.46 million.