United Plantations Bhd, one of the larger medium-sized plantation groups in Malaysia, has declared a special single-tier dividend of 40 sen per share and a final single-tier dividend of 70 sen per share, for the year ended 31 December 2023.

The payout brings its net dividend per share to RM1.90 compared to RM1.40 in FY22.

In its newly released annual report for 2023, United Plnatations chairman Datuk Mohamad Nasir Ab Latif said that the record high dividend was based on the 'exceptional results and very strong cash position that has been accumulated over the past years'.

He added that it should not be taken for granted, especially when market conditions change due to amongst others commodity price volatility.

United Plantations were trading at RM21.32 at 9.40am today, its 52-week high.