SINOMEDIA (00623) saw its stock price surge by 5.13% during Monday's intraday trading session, following the company's announcement of impressive financial results for the fiscal year and generous dividend payouts. The media company's strong performance and shareholder-friendly actions have evidently sparked investor enthusiasm.
According to the released financial report, SinoMedia Holding achieved a revenue of RMB 612.5 million for the fiscal year. More importantly, the company reported an operating profit of RMB 107 million, demonstrating its ability to generate substantial earnings in the competitive media landscape.
What seems to have particularly excited investors is SinoMedia's commitment to returning value to shareholders. The company declared a final dividend of HKD 11.00 cents per share, but the real kicker was the announcement of a special dividend amounting to HKD 24.00 cents per share. This combined dividend payout signals management's confidence in the company's financial health and future prospects, likely contributing significantly to the stock's impressive intraday performance.
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