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SGL in 9% decline
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sparkly
#1 Posted : Wednesday, March 24, 2010 5:05:29 PM
Rank: Elder


Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
SGL reported a 9% decline in PAT. Only paying SH 0.50 dividend and retaining the rest for expansion.

They have indicated that they want to diversify in the region and beyond. Watch out for acquisitions.
Life is short. Live passionately.
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Gordon Gekko
#2 Posted : Wednesday, March 24, 2010 6:29:56 PM
Rank: Elder


Joined: 5/27/2008
Posts: 3,760
It is a scrip dividend, which means a 1:10 bonus. They need all the cash they can get, what with the new HQ and the TV station to come.
I am a great fan of scrips, so I fully support the move - keeps me (shareholder) happy and at the same time conserves cash.
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VituVingiSana
#3 Posted : Thursday, March 25, 2010 3:41:51 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,120
Location: Nairobi
@GG - I have not looked at the announcement but why pays a scrip dividend (coz 5-10% goes to taxes!)?

Better for the shareholders to get a bonus... coz the stamp duty is much lower than paying the w/holding tax...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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