Duty Free International

Dongdaemun
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11 years 4 weeks ago #13636 by Dongdaemun

Replied by Dongdaemun on topic Re:Duty Free International

The full yr results will be released next mth, April, as their year end is Feb.

I strongly expect a special dividend from the sale of The Zon. The sale completion was in March but doesn't matter lah. If they want to give, they will give special.

The Zon reaped about S$135 million = 12 SGD cents a share. If they pay 30%.... shiok man! if they pay 50%, or 6 cents, lagi best.

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divads
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11 years 4 weeks ago #13637 by divads

Replied by divads on topic Re:Duty Free International

The book value of Zon is about M$240 million and sold for M$320 million. Profit is about M$80 million minus away expenses due to the S&P.

So is only about S$30 million, which is about 3 cents profit only.

Maybe a special dividend of 3 cents + normal dividend of 1 cent in July.

The End Feb financial report does not take into account of this profit yet, so I doubt will be next mth, shd be july if they want to declare special dividend.

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Dongdaemun
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11 years 4 weeks ago #13638 by Dongdaemun

Replied by Dongdaemun on topic Re:Duty Free International

D, thank you for the insight. Can Duty Free pay a special dividend 'in advance' since the cash from The Zon is already in the bank?

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AlexTan
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11 years 4 weeks ago #13639 by AlexTan

Replied by AlexTan on topic Duty Free International

Legally they can, commercially not viable so they most likely won't. I think short-term there are no push factors to push stock up.

The following user(s) said Thank You: pine

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Dongdaemun
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11 years 3 days ago #13794 by Dongdaemun

Replied by Dongdaemun on topic Duty Free International

You have been astute in predicting no-catalyst -- the stock price has not budged. Interestingly, it has not fallen below 40 cents. Seems like no big trader, it's largely value investors who are holding the stock.

I look forward to the full year results announcement. Keeping my fingers crossed for special dividend. Last year, the FY announcement was made on Apr 28. This year's should be coming in a few days time@!!!!

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pine
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11 years 19 hours ago #13816 by pine

Replied by pine on topic Duty Free International

Alex! No final dividend, no special div --- U think it will come in 1Q?

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