5008 HARISON

HARRISONS is involved mainly in the promotions, sales, marketing, warehousing and distribution of products from a widespread of industry including consumer, building materials, engineering products, fine wines, agricultural and industrial chemicals, as well as the operation of shipping/logistics and travel agencies in Malaysia.
HARRISONS has represented major multi-nationals e.g. NESTLE for 75 years, GAB for 52 years, Malex for 42 years and Maerskline for 31 years. Some other household names that HARISON represents include SCA Hygiene (Drypers), Reckitt Benckiser (Dettol, Shieldtox), Kao (Biore, Laurier), Ngan Yin and Cocolin.
HARISON have been a consistently profit performer and distributing increasing dividends to shareholders (based on recent financial reports); some of which are listed below.
DIVIDENDS (Recent history only)

• FY2012 Nett __sen
• FY2011 Nett 57.5sen (Special Interim 50sen less tax, Final 20sen single tier ex-date: 04Jul12)
• FY2010 Nett 13.5sen (Final 18sen less tax)
• FY2009 Nett 11.25sen (Final 15sen less tax)

RETAINED EARNINGS (Distributable Only)

• 1Q2012 : RM211million
• FY2011 : RM201million     FY2010 : RM202million     FY2009 : RM173million 

OTHERS

• 1Q2012 : EPS: 11.48sen     NTA: 410sen     PE: 7.1     Price: RM3.25 at 29/5/12
• FY2011 : EPS: 49.47sen     NTA: 393sen     PE: 6.3     Price: RM3.10 @18/5/12

MY TAKE: Given the price movement over the last 4 years (2009-2012), a consistent pattern with price hike after the big fat dividend announcement. Take note that HARRISONS already have a proposed 20sen (for FY11) in progress, and which should be approved (hopefully) latest by 31May. The question now is will HARRISONS dish out another special dividend? If so, when? My take is the odds is high given the high amount in retained earnings.  
note: all data from local exchange website, and for any error here refer to local exchange website for accuracy. all analysis herewith is for personal purposes only