Not only has Technics Oil & Gas been buying back its own shares but its executive directors too have been displayed confidence in the company's prospects by doing so.
The latest are two transactions by David Tay, an executive director, who bought 258,000 shares at between 98 and 99 cents apiece.
The stock purchases come with an interim dividend of 3 cents a share, which brings the total dividend declared to 9 cents per share (including a special dividend of 3 cents) for FY2011 so far. (The stock goes x-d tomorrow, June 1)
The payouts have come on the back of good business results: Technics registered a 65% jump in net profit to S$8.6 million for 1H FY2011.
Read more about the company’s history of dividend payouts at: TECHNICS OIL & GAS: High dividend yield, wide gross margin
For the first time since its IPO in 2002, DMX Technologies bought back its shares.
The May 23 purchase at 34 cents came after the stock slid from a high of 45 cents in January this year on a fall in the broad market's sentiment.
DMX has continued on its fast-growth track, reporting that its 1Q2011 net profit jumped 59.3% to US$2.0 million.
Revenue jumped 35.3% year on year to US$64.4 million with strong growth across both its business divisions.
Recent story: DMX: Targeting 20% annual growth in revenue for next 5 years
Meiban Group has continued to buy back its shares at the below-30 cent level.
That is below the stock’s Net Asset Value as at end-March of 46.6 cents a share.
Meiban's 1Q results weren't too inspiring though. Revenue declined 17% to $90.1 million and net profit was down 29% to $2.7 million.
Investors would be looking out for how Meiban develops and markets what it touted as the “world’s most efficient LED headlamp.”
Recent story: Insider buying: SERIAL SYSTEM, MEIBAN, STRACO
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