KUALA LUMPUR (April 10): Particle board and ready-to-assemble furniture maker HeveaBoard Bhd has proposed a single-tier final dividend of 1 sen per share in respect of its financial year ended Dec 31, 2019.

The dividend is subject to the approval of shareholders at its forthcoming annual general meeting. The date of entitlement and payment for the dividend will be announced in due course, it added.

The group reported a net profit of RM14.08 million in its FY19, down 15.5% from RM16.66 million a year ago as revenue declined 6.4% to RM419.19 million from RM447.89 million. The lower earnings were due to lower contribution from its particleboard sector.

HeveaBoard's shares closed 1.5 sen or 4.41% lower at 32.5 sen today, bringing it market capitalisation of RM183.91 million. The counter saw some 3.26 million shares done. Year to date, the counter has fallen some 40% from 54 sen on Dec 31, 2019.