If you are dissatisfied with the Co's absence of dividends, then I suggest that we bombard the Co Secretary which the official website holds out as follows ....
"Petron welcomes enquiries from analysts and institutional investors. Please call .... 03-20828459 manoj.devadasan@petron.com.my"
They usually declare on final dividend in April, No interim dividend. It has been like this since 2013. Once the management has a view of how business going to be in 2021 by April, I suspect they will still pay dividend for FY2020 though will be lower than 12sen last year .
Uptrend oil price is good for PetronM as the company is likely to make higher profit for the inventory bought earlier. Cracking margin is improving. Sales is improving with opening of economic sector and increasing economic activities and traveling will spur demand for its products . Pent up demand after covid can be a boom for petronm. Just my view .
Oil drops more than 7% in worst day since September
(PUBLISHED THU, MAR 18 20211:37 AM EDTUPDATED THU, MAR 18 20212:40 PM EDT)
Oil prices sunk for a fifth day running on Thursday on a stronger dollar, a further increase in U.S. crude and fuel inventories and the weight of the ever-present COVID-19 pandemic.
Brent crude slid 6.94% to settle at $63.28 per barrel. U.S. oil settled 7.12%, or $4.60, lower at $60 per barrel, after shedding 0.3% in the previous session. Both contracts are down 6% over the past five days.
“Short-term developments - stuttering vaccine rollouts and the build in U.S. oil inventories - are driving sentiment, but the longer-term oil outlook is still encouraging,” said PVM Oil Associates analyst Tamas Varga.
“Yesterday’s U.S. Federal Reserve meeting provided a boost to equities ... U.S. economic growth has been revised upwards while unemployment is expected to decline.”
A sharp rise in the value of the dollar after the Fed meeting has also driven the oil sell-off.
Government data on Wednesday showed U.S. crude inventories have risen for four straight weeks after severe cold weather forced shutdowns at refineries in the south. An industry report estimating a decline had raised hopes of a halt to the gains.
U.S. crude inventories rose by 2.4 million barrels last week, the U.S. Energy Information Administration (EIA) said on Wednesday, a day after the American Petroleum Institute (API) estimated there had been a 1 million barrel decline.
Varga added the market would be waiting for U.S. manufacturing data next week for further indications on the health of the world’s largest economy.
“Lower crude demand from Asian buyers as a result of upcoming refinery maintenance and probably higher prices is also something not helping crude at the moment,” said UBS commodity analyst Giovanni Staunovo.
A slowdown in some vaccination programmes and the prospect of more restrictions to control the coronavirus have tempered expectations for a recovery in fuel use.
Britain said on Thursday that global supply bumps meant its vaccine rollout would be slower than hoped in the coming weeks but it expects deliveries to increase from May.
A number of European countries have halted use of the AstraZeneca shot because of concerns about possible side effects, though the World Health Organization said Europe should continue to use the vaccine.
If no dividend announcement by end of April, then no dividends. However the management still continue to get their fat paychecks. Instead of working for us shareholders, we are funding their lifestyle. Hook or crook, they should pay dividends just like hook or crook, they get their salaries.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
limkokthye
6,039 posts
Posted by limkokthye > 2021-02-26 13:10 | Report Abuse
Earn so much money, dividen pun tarak,cb management