With purchase up to 10% of its share issued, it will mean about 247millions share, that represent about RM2.8b at current price of RM11.40. In other word PBBANK only spending 8% to 9% of it cash balance, which is relatively small. After the share buyback the estimated treasury shares will stood at 247 + 93 = 340m shares.
This giant still remain very robust.
See news below :-
Public Bank to seek nod in AGM
KUALA LUMPUR: Public Bank Bhd will be seeking shareholders’ approval to purchase up to 10% of its issued and paid-up share capital at its AGM on a date to be announced later.
In a statement to Bursa Malaysia, Public Bank said a statement to shareholders containing information on the proposed share buy-back authority would be despatched to shareholders together with its annual report in due course.
23 comments:
Sold some Lonbisc at 1.07.. :)
Sold off all StarREITs at 87.5sen, realize paper profit.
Bought maximum UOAREITs at 1.27
UOAREIT to announce DPU on 15/1/01..
Update protfolio
REITs core stock
UOAREITs 143.5%
BsdREITS 73%
TowerREITs 25%
Trading stock
IGB 8.5%
UOAREITs already make provision to distribute 95% net profit in Q3= 2.82sen (2.43 + 0.48TE). Expect at least similar provision in Q4, which likely to be declare on this friday, income of 5.64sen (4.4% yield)
UOA Asset Management Sdn Bhd, the Manager of UOA Real Estate Investment Trust (“UOA REIT”), wishes to announce that UOA REIT had undertaken a revaluation exercise on the properties of UOA REIT.
The Revaluation will result in an aggregate revaluation surplus of RM29,149,523. Based on the latest unaudited results of UOA REIT as at 31 December 2009, the net asset value of per unit of UOA REIT of RM1.3683 will increase to RM1.4868.
Hi,
I am here to ask questions again. I am confused with share dividend in this post.
From what I know, company uses cash to payout as dividends (cash), am I right?
Why company has to buyback shares and then give dividend?
Greenleaf,
as i mentioned earlier, not necessarily company will give shares dividend for those shares that they buyback. Up to the discretion of the company, they might opt to cancel the treasury shares instead.
Yes, u r right most of the time we get cash dividend. Since PBB has started the precedence by giving shares dividend last year, I presumed they might do the same this year.
Shares buyback is good as it will some how stabilize the share price, might lead the price to surge higher as well. As the no of shares in the market decreases it will increase the shareholder value. Company normally buyback shares with excess cash, which mean cash flow is solid and it may also serve as a form of “re-invest” it cash for better return than alternative investments.
Another alternative of company treat trasurey share is sell back share to open market and reap profit if curent share price surge higher than earlier cost of purchase e.g. KPJ, Notion VTEC, Konsortium etc
Bought back Lonbisc at 1.02...
hng,
Yr HUNZPTY really fly....from 1.40 to 1.69... :)
How nice if you keep till now... :)
Nice call mate.
horse
Too bad no holding any stake :(
Many of the Portfolio stocks after dispose, keep flying....
This is drawback of my current trading strategy, just can't hold stock too long to reap even higher profit, keep divest and changing stock; too envy and feel setback watching stock flying :(
Nonetheless, current strategy is also my most comfortable and have been rewarding so far. Will likely continue concentrate on capital to invest in already plan ahead streategy.
Afterall, lets other player with different risk and strategy to reap their share of porfit in the market, so long everyone enjoying stock investment, be happy !
Curently, portfolio already used up all availble capital and in ultra max margin line, with almost fully invested in REITs stocks.
The only thing can be done now is wait for REITs income distribution to be announce soon.
Just sold off all IGB at 2.05, realize paper profit
you are now left with 100% REITs.
This sector quite a sure bet.. :)
Market above 1300pts....Almost all sector share have soaring in recent rally except REITs :(
REITs are slow & steady, majority reap from its dividend not so much of appreciation.
did you buy back your Genting SP ??
REITs is good in bear or uncertain market due to its defensive and yield. Current bullish sentiment is just overlook this sector and switch to high growth and high beta stock and big bluechip.
Patience is key in current situation as almost all capital already invested in REITs, need to wait for its income payout.
I just received all profit gain from divestment of Genting SP and channel them to fixed income assest.
I've yet to decide of the capital left and still wait for either re-entry to Genting SP at $1.10-1.20 or Singapore REITs. Afterall, these capital initially is family reserve control by my wife and mere for fixed income assest and eventually have to revert back to 30-35:65-70 ratio in accord to assest allocation
Singapore REITs.... can consider Fortune...
wow, PBB continue to surge high.
I have a feeling it mught break it RM12 record. :)
4Q result is this month.
Percentage of Public Bank Shares Held by Foreigners as at 31/12/09
is 26.49% of
the issued shares of PBB.
Good luck for you, wish PBank reach your goal soon and continue perform as good as CIMB + share/cash dividend :)
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