In less than 2 years, PCRD has transformed from an ugly cash hoarder to become a beautiful golden goose who can’t stop laying generous dividends. The latest was another surprise 5.5 cts dividend (2 cts interim + 3.5 cts special) declared on 11 Nov, adding to the total 8.7 cts dividend distributed just earlier this year. This was in turn preceded by a 2.2 cts dividend announced in Feb and paid in May last year, the first dividend declared in eight long years.
Altogether, this gives a total of 16.4 cts worth of dividends announced in the space of 21 months. Based on the closing price of $0.355 as at 9 Feb 18, just prior to the announcement of the 2.2 cts dividend, the company has now declared dividends worth an impressive 46% over the said period.
As we have mentioned in a note in March, annual dividends of more than 3.5-4.0 cts is probably not sustainable. However, shareholders will probably not be complaining about the Company’s sudden generosity.
PCRD 3Q results: https://bit.ly/33CthpX
Altogether, this gives a total of 16.4 cts worth of dividends announced in the space of 21 months. Based on the closing price of $0.355 as at 9 Feb 18, just prior to the announcement of the 2.2 cts dividend, the company has now declared dividends worth an impressive 46% over the said period.
As we have mentioned in a note in March, annual dividends of more than 3.5-4.0 cts is probably not sustainable. However, shareholders will probably not be complaining about the Company’s sudden generosity.
PCRD 3Q results: https://bit.ly/33CthpX
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