Duty Free International

The full yr results will be released next mth, April, as their year end is Feb.

I strongly expect a special dividend from the sale of The Zon. The sale completion was in March but doesn't matter lah. If they want to give, they will give special.

The Zon reaped about S$135 million = 12 SGD cents a share. If they pay 30%.... shiok man! if they pay 50%, or 6 cents, lagi best.

The book value of Zon is about M$240 million and sold for M$320 million. Profit is about M$80 million minus away expenses due to the S&P.

So is only about S$30 million, which is about 3 cents profit only.

Maybe a special dividend of 3 cents + normal dividend of 1 cent in July.

The End Feb financial report does not take into account of this profit yet, so I doubt will be next mth, shd be july if they want to declare special dividend.

D, thank you for the insight. Can Duty Free pay a special dividend 'in advance' since the cash from The Zon is already in the bank?

Legally they can, commercially not viable so they most likely won't. I think short-term there are no push factors to push stock up.

You have been astute in predicting no-catalyst -- the stock price has not budged. Interestingly, it has not fallen below 40 cents. Seems like no big trader, it's largely value investors who are holding the stock.

I look forward to the full year results announcement. Keeping my fingers crossed for special dividend. Last year, the FY announcement was made on Apr 28. This year's should be coming in a few days time@!!!!

Alex! No final dividend, no special div --- U think it will come in 1Q?