Apollo Food Holdings Bhd In the food sector, which is experiencing an increasing number of mergers and acquisitions (M&A), Apollo Food stands out for its steady dividend payments.
The Johor-based confectioner has paid no less than 20 sen dividend per share since FY2003 ended April 30, which translates to an average payout ratio of over 80%.
Apollo Food declared a gross dividend per share (DPS) of 25 sen for FY2010 ended April 30, 20 sen for FY2009 and 25 sen for FY2008.
A DPS of 25 sen represents a payout ratio of 81%. The dividends represent a yield of 7.8% based on Apollo Food’s share price of RM3.20 last Tuesday.
For FY2010, net profit rose to RM24.6 million or 30.85 sen per share from RM20.9 million or 26.15 sen the year before, despite lower revenue of RM159.5 million against RM175.3 million. Net profit was partly boosted by gains on divestments.
Apollo Food has a strong balance sheet with zero borrowings. As at April 30, it had net cash of 40.6 sen per share or RM62.5 million. Some quarters say it is not good for the company to have a debt-free balance sheet as management is not striking a balance between equity and borrowings to fuel its business.
But Apollo Food’s shareholders who are consistently getting dividends are probably not complaining.
Latest quarter results:
| Announcement Date | Financial Year | Quarter Number | Financial Quarter | Revenue (RM,000) | Profit Before Tax (RM,000) | Net Profit (RM,000) | Earning Per Share (Cent) | Dividend (Cent) | NTA (RM) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 28/06/2012 | 30/04/2012 | 4 | 30/04/2012 | 56,193 | 9,489 | 8,740 | 10.93 | 0.00 | 2.690 | ||||
| 22/03/2012 | 30/04/2012 | 3 | 31/01/2012 | 49,851 | 8,452 | 5,671 | 7.09 | 0.00 | 2.570 | ||||
| 22/12/2011 | 30/04/2012 | 2 | 31/10/2011 | 45,216 | 6,054 | 4,138 | 5.17 | 0.00 | 2.700 | ||||
| 24/08/2011 | 30/04/2012 | 1 | 31/07/2011 | 49,289 | 4,598 | 3,191 | 3.99 | 20.00 | 2.650 | ||||
| 24/06/2011 | 30/04/2011 | 4 | 30/04/2011 | 44,673 | 3,461 | 2,014 | 2.52 | 0.00 | 2.610 | ||||
| 29/03/2011 | 30/04/2011 | 3 | 31/01/2011 | 51,024 | 7,400 | 6,386 | 7.98 | 0.00 | 2.580 | ||||
| |||||||||||||
| Date | Financial Year | Ex-Date | Entitlement Date | Payment Date | Entitlement Type | Dividend (Cent) | Dividend (%) |
|---|---|---|---|---|---|---|---|
| 23/08/2011 | 30/04/2011 | 08/12/2011 | 12/12/2011 | 09/01/2012 | First and Final Dividend | 0.000 | 20.00 |
| 27/08/2010 | 30/04/2010 | 15/12/2010 | 17/12/2010 | 12/01/2011 | First and Final Dividend | 0.000 | 25.00 |
| 24/08/2009 | 30/04/2009 | 15/12/2009 | 17/12/2009 | 12/01/2010 | Final Dividend | 0.000 | 20.00 |
| 27/08/2008 | 30/04/2008 | 15/12/2008 | 17/12/2008 | 12/01/2009 | Final Dividend | 0.000 | 15.00 |
| 27/12/2007 | 30/04/2008 | 19/02/2008 | 21/02/2008 | 18/03/2008 | Interim Dividend | 0.000 | 10.00 |
| 23/08/2007 | 30/04/2007 | 10/12/2007 | 12/12/2007 | 09/01/2008 | Final Dividend | 0.000 | 15.00 |