Highlights
KLSE: SSTEEL-LB (5665LB)       SOUTHERN STEEL BHD MAIN : Industrial Products
Last Price Today's Change   Day's Range   Trading Volume
2.10   0.00 (0.00%)  0.00 - 0.00  0

Dividend, Bonus, Split & Consolidation

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Ann. Date Ex Date Payment Date Type Subject Amount View
01-Jul-2015 15-Jul-2015 27-Jul-2015 INTEREST Loan Stock Interest 5.0000% Dividend Detail
05-Jan-2016 18-Jan-2016 27-Jan-2016 INTEREST Loan Stock Interest 5.0000% Dividend Detail
30-Jun-2016 15-Jul-2016 26-Jul-2016 INTEREST Loan Stock Interest 5% Dividend Detail
04-Jan-2017 17-Jan-2017 26-Jan-2017 INTEREST Loan Stock Interest 5% Dividend Detail
04-Jul-2017 17-Jul-2017 26-Jul-2017 INTEREST Loan Stock Interest 5% Dividend Detail
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Solo Can someone explain to me how does this LB work?
28/04/2017 11:21
gforce2 SSTEEL-LB is a loan stock, with fixed interest repayments of 5% (5 sen/yr, paid at half-yearly intervals), from 2015-2020. As far as I can figure, it is a 1:1 conversion to mother share (The RM1.05 exercise price refers to the initial price to buy the loan stock in 2015). Conversion can be done at any time, via your remisier/brokerage.

The reason for the low volume is because -LB stockholders were getting 5 sen annual returns (better than FD) while mother share had no dividend since 2014.

Given that the mother share just declared a 3 sen dividend ... you can expect some interest in this counter, as a cheaper entry to own the mother share.
Note that at RM1.40, loan stock interest works out to only 3.57% p.a.


References:
http://www.bursamalaysia.com/market/listed-companies/company-announcements/4205517
http://www.bursamalaysia.com/market/listed-companies/company-announcements/3644697
28/04/2017 14:36


 

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