I was surprised to find out something.. very surprised! :o

This stock was listed on 14/12/2005 at $1.75 with dividend yield forecast of 7~8.6 percent for FY06.

Assume that the yield % was based on IPO price of $1.75 , that would mean $0.12 ~ $0.15 (round-off) in actual cents.. WOW!

Anyone pls correct me if I'm wrong. Company total share issue is approx. 2092mil shares, that would mean a total distribution of (2092 * $0.12) or $251mil (minimum).

Quite latest updates on Shares Investment shows that company expect a proforma EBIT of A$199.4mil (or S$239.3mil).

A dividend payout of more than their expected EBIT???

Furthermore, it has yet to show much improvement in share price since 1st day trading. At current price of $1.60 , that would mean the dividend yield has further improved to 7.5~9.4 percent... WOW!

A look at its Top 20 shareholders figures.. and WOW! They held a total of nearly 95%, leaving a very small portion to the small investors.

Isn't that SUPERBLY attractive given its super high dividend yield (thou' not confirmed..) while having BIG institutes like Sing Power & so many Nominees (17!!) holding on to the shares?

I'm so tempted to have a bite on it :rolleyes: given:
1) potential high yield (for long-long-term investment say >5yrs)
2) utility stocks
3) backup by many BIG institutes
4) gather the three points above - almost "pa4 si4 buay3 dou4"

Pls.. any kind hearts, let me know if the above figures & analysis is completely wrong (thou' I hope that nothing wrong :( )

Not sure about this since it is really an Aussie stock. I also cannot find out what is the par value of the share from the SGX website or the IPO prospectus. Since doesn't seems available I don't know whether Aussie stocks has par value.

For purely Singapore stocks, dividednds are referenced using the par value. So if a stock trading at $1.00 and has a par of $0.10 then a dividend of 68% is really 68% of par $0.10 which is $0.068. It is NOT 68% of $1.00; NOT $0.68.