Wednesday, August 03, 2011

MNRB- rising on dividend

MNRB announced a first & final dividend of 20% (less tax of 25%) yesterday (here). The share responded with a sharp rally this morning. MNRB broke above the psychological RM3.00 level as well as the horizontal line at RM3.10. The indicators are positive & there is sign of accumulation over the past few weeks. If the stock can stay above the RM3.00 level, we could be seeing the start of a gradual upleg for this stock. The current poor market sentiment would not however act as a brake to any rally.


Chart: MNRB's weekly chart as at August 3, 2011_10.15am (Source: Quickcharts)
at

3 comments:

  1. AnonymousWednesday, August 03, 2011 12:36:00 PM

    Finally declared dividend after 2 years waiting . By the way is the first & final dividend of 20% mean 20% from the EPS of 58 cent or 20% from the PAR value RM1.00 ?

    ReplyDelete
  2. AnonymousWednesday, August 03, 2011 2:53:00 PM

    I have verified the MNRB dividend's history in Bursa's website . The 20% should mean 20 % of the PAR value RM1.00 so should get RM 0.20 dividend in this case .

    ReplyDelete
  3. ckThursday, August 04, 2011 8:30:00 PM

    i also have waited since early 2010 , now MNRB finally has declared dividend. More dividend to come if profit is good.

    ReplyDelete