Another dividend received

I'm loving e-dividend more and more.  No more runs to the bank to get cheque deposited.  All is done for you and right on the day of payment.   This round, I get notified that my dividend for MBMR has been banked it.  Even though at current price, MBMR is at a paper loss,  I'm still confident on the share price in the longer run.

Huayang has been making a good rally since yesterday.  It managed to touch 1.20 this morning and ended the first half session at 1.19.  I'm still holding on to my Huayang for now.

Citi will do reverse stock split and resumes dividend

Yesterday, Citigroup (C) announced that it will reverse stock split of 10-to-1, every 10 shares of its stock will be exchanged for 1 new share as of May 6.  This means if today you have 1000 units of C, after May 6, you will have only 100 units of C, but the stock price will reflect accordingly.  This reverse stock split exercise will reduces the amount of Citi shares outstanding from 29 billion to 2.9 billion.

Citigroup will also pays a dividend of 1c for every share held.  The CEO of Citigroup commented that it will only start pay higher dividend or share buyback in year 2012.

One should not be too worried by this move as it is necessary for Citigroup to reduce the number of outstanding shares for a better future prospect.

Dividend received

KLSE managed a minor gain today.  The nuclear crisis worries seems to be lessen although the general public remained concerned and confused by the various news sources.  On the other hand, there seem to have some development at the middle east, Libya, in particular, where UN has declared a no-fly zone and backing up the rebellion forces.  The market viewed it as a positive move.

Apart from the daily news,  today I received an email notifying me that Supermax has banked in my dividend.   Thanks to e-dividend which allows the shareholder to be notified electronically and payment are banked in directly into their bank.  Supermax declared an interim tax exempt dividend of 5% on 14th Feb 2011.  The payment day is today, 18th March 2011.

Nikkei 225 suffers a 10% plunge due to increased concern on Nuclear Crisis

Today we see a big plunge in Japan's Stock Exchange, Nikkei 225, who suffers 14% loss at around noon but managed to recover slightly to close at 10% loss, -1015pts.   All regional stock exchange suffers the same fate, falling between 2%-3%.  Malaysia's KLSE managed to close at a loss of 11.21 pts or 0.75%.

As the world continue to follow the earthquake, tsunami & nuclear plant leakage disaster closely, let us not forget to also pray for them.   May the worst has past and road to recovery begins.

Mudajaya proposes a 1-for-3 bonus issue

After many days of watching Mudajaya going south, it finally announce a news that many investors would cheer of.  Mudajaya is proposing a 1-for-3 bonus issue.

To avoid any confusion, it means if you are holding 3000 units of Mudajaya, you are entitled to 1000 units of new Mudajaya share, which will ends up with a total of 4000 units.   The announcement is just a proposal, meaning it has to get approval from its shareholders before we can have an idea of when the bonus issue is scheduled.

If the proposal is approved and you are only holding 2000 units of Mudajaya, you will end up with odd lots.  In this case, you have a decision to make, either to sell off your share or to top-up so it can be in multiply of 300 or 3000 units.  When more details is released, I will post it here.

Dividend received

Today I received 2 letters.  Both are dividend notification letters, TWS and P&O.  Even though P&O dividend is little in comparison to TWS, it is still a good gesture from the company to distribute income to its shareholders.

Market continue to be weak, especially on the second liners.  Stocks with strong fundamentals tend to fare better than the rest.  Not all in my holdings are doing well.  This will be a good time to evaluate the stock we have bought and determine the next step.  Any action by me will surely be posted here.

Bought more Pantech-wa today, 1st March 2011

My order matched while I was away in the morning.  I have accumulated enough of Pantech-wa @ 0.325.  I believe my shopping is pretty much done.  Although Pantech-wa is now running at over 40% premium, there is still a good likelihood it will shoot up when its mother start to move on good news or financial result.  I'm aware that the latest quarter earning doesn't look too good.  However, it is still in profit and the bosses bought a big chunk during December month.  The exercise price is 0.60 and the warrant will expired in December 2020.  Still has 9 years for it to show its true color.