BULLSEYE88 wrote: When it comes to actually doling out the cash, Baker Tech has also proven to be no slouch. For the period of FY2012 to FY2015, dividends paid and declared totaled about S$148 million. This includes FY2012 and FY2013, when the company distributed S$132 million in total to shareholders, funded partially by proceeds from disposals of York Transport, PPL as well as Discovery Offshore. It has also paid no less than 2.5 S cts per share in dividends (adjusted for the 5 to 1 share consolidation in 2016) since FY 2008. By comparison, the company's shares currently trade at just S$0.555 for a market capitalisation of S$112.6 million.
Being in the oil and gas services industry, Baker Tech has not been spared the negative sentiments permeating from Swiber’s initial winding-up announcement after market closed on 27 July 2016. Over the next 7 trading days that followed, Baker Tech’s share price plunged 14%. Although other oil and gas services counters such as Ezra (-23%), Ezion (-12%) and Swissco (-25%) experienced similar sharp declines, Baker Tech stands out as it has a much stronger balance sheet. While the aforementioned oil and gas services companies all sported high gearing levels, not only is Baker Tech debt free but it also has a cash pile of S$113.2 million in addition to another S$7.8 million in corporate bond holdings. This gives it a net cash backing of S$0.558 per share, slightly higher than its last traded price of S$0.555. Adding the corporate bond holdings will give it a mostly liquid asset backing of almost S$0.596 or a 7% premium over its current share price.
Baker Technology Limited manufactures and provides equipment and services for the oil & gas industry. The Company's products include offshore pedestal cranes, anchor winches, skidding systems, jacking systems and raw water tower structures.
Right Now is a Great Movement On There Between - 0.665 TO 0.75 ...
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