Proposed Special Dividend The Board proposes to declare and pay part of the Disposal Consideration as a special cash dividend to shareholders whose names appear in the Company’s Record of Depositors on an entitlement date to be determined by the Board later (“Proposed Special Dividend”). The Proposed Special Dividend will be implemented upon the approvals as set out in Section 10.2 below is obtained. As at the LPD, the tentative amount proposed to be distributed as special cash dividend to the entitled shareholders will be approximately RM1.85 per SCGM Share which amount to approximately RM356.24 million. The actual amount to be distributed will be determined and announced at a later stage. SCGM’s shareholders should note that the amount of distribution mentioned is a preliminary estimate and should not be deemed as the final distributable amount. The quantum of special cash dividend to be declared is dependent on the availability of sufficient distributable profits and the Company being in a position to comply with the provisions of Section 131 of the Act as at the date of declaration of the proposed dividend.
I don't have any shares in SCGM, never bought any before but in view of the low market price, I am considering to buy into SCGM. Can anyone give possible reasons why market price fell and remained low after the proposed disposal and generous distribution of disposal proceeds to shareholders?
Meanwhile, I enjoy the quarterly dividend first. Not many counters in Bursa today, can pay dividends every quarter! Look at SCGM record....28 straight uninterrupted quarters.... paying since 31 July 2015. Many thanks to the Board.
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....