They released two great pieces of news at one go: a 113% jump in net profit for 1Q and new financing which will enable the company to repay the current debt. The key thing is the new financing will free the company from the current scheme's covenants including no-dividend payouts
net profit is very impressive.. $9mil is just decent compared to last full year profit of about $40mil.. but i believe the sale of two big vessel worth $87 mil mentioned in last full year report still not recorded into the book.. may be will be recorded in next quarter.
the best thing is they already secured the $150mil term loan, and free up dividends freezed. we should see the price improve but jaya can continue rack up profits...
The question that will keep shareholders on edge now is what is the dividend that Jaya will pay? We can be nearly 100% sure Jaya will pay a dividend....
Will there be an interim dividend declared in 3 months' time? Or will there be just a final dividend?
The past is definitely no guide since the top management is new and the board of directors is new and the major shareholders are also new. Jialat.... For what it is worth, the past dividends of Jaya (before the troubles befell them) were:
well, i believe the Jaya major shareholders also want to see some returns from Jaya investment, so paying div is like u said, 100% but i think it won't be too much at this kind of economy climax... but to start, 1 to 2 cents per annul is a good start..
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[Don 11-11-2012]:
The question that will keep shareholders on edge now is what is the dividend that Jaya will pay? We can be nearly 100% sure Jaya will pay a dividend....
Will there be an interim dividend declared in 3 months' time? Or will there be just a final dividend?
The past is definitely no guide since the top management is new and the board of directors is new and the major shareholders are also new. Jialat.... For what it is worth, the past dividends of Jaya (before the troubles befell them) were:
