The proposed divestment of Gadini, a wholly-owned subsidiary of Malaysia Building Society’s (MBSB), to Ken Holdings Bhd is in line with the group’s effort to dispose foreclosed properties and non-income generating assets, according to OSK Research Sdn Bhd.
“The proposed sale is expected to result in a gain on disposal of some RM6.75 million, which will translate into an increase in its earnings per share by about 0.48 sen, based on our financial model,” noted the research house in a report by Bernama.
“Assuming MBSB decides to reward shareholders by paying out this gain in full as dividend, the stock’s gross dividend yield would increase from 5.5 percent to 5.7 percent, based on our projections.”
No comments:
Post a Comment