Look at my previous posting. I predicted July Q1/14.
Price dropped due to no dividend declared in Q4/13.
BUT
Read the tone of the full year 2013 financial report. Does not sound too good. I think they may NOT declare a special dividend as they want to preserve the cash for the challenging, uncertainties and challenger environment.
Their CEO also just resigned too.
Quote:
With the completion of DMSB Agreement, on 15 March 2013, the Group is expected to realise an estimated gain on disposal of approximately RM120 million for the financial year ending 28 February 2014. However, the Duty Free business of the Group operates in a challenging and competitive environment, and with the uncertainties in the global economies,
the Group is maintaining a cautious outlook on the operating performance of the Group for the next 12 months.
Seems like the stock is quite soft with low trading volume. and it seems they have broken their dividend giving policy/ cycle/ trend. Quite concerned.
Anyone want to email them to ask about how they intend to use the proceeds from the land sale? Any of you know when is the upcoming quarterly results??
Last year the AGM was held on June 27.
The 1Q results were announced on July 10.
The AGM is a good pl to go ask the management abt the land sale proceeds and what they intend to do with it. As for 1Q results, I think a dividend will be paid from the land sale proceeds.
It's not likely the company will answer by email now a question on how they intend to use the land sale proceeds.
1 cent is the normal dividend while 1.5 cents is the special dividend. so 6.4% is not based on the 'normal' payout. However, the interim dividend will be next to come. In the previous year, they also gave 1 cent interim dividend. Woohooo Let's wait!
