Borrowing = 500millions.
Dividend 8sen = 108millions
There goes the 1/5 of borrowing to dividend of 8sen. Likely Bjtoto share price will get depress further mainly due to a lower profit of 1Q result. I think there is still a dividend to be declared in next Q (2nd) from the borrowed money. They are going to resume by giving dividend on every quarter again i presume. In fact is not a bad idea though.
See below news.....
KUALA LUMPUR: BERJAYA SPORTS TOTO BHD posted net profit of RM63.95 million in the first quarter ended July 31, 2010, down 36% from RM100.45 million a year ago mainly due to the increase in pool betting duty.
It said on Monday, Sept 20 that revenue declined to RM835.4 million from RM826.16 million. Earnings per share were 4.78 sen versus 7.97 sen.
It declared dividend of 8.0 sen versus 49.5 sen a year ago.
BToto said Sports Toto, the principal subsidiary, registered an increase in revenue of 1.0% but recorded a decrease in pre-tax profit of 23.6% mainly due to the increase in pool betting duty from 6% to 8% with effect from June 1, 2010 coupled with the relatively higher prize payout in the current quarter under review.
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