2836 CARLSBERG #

CARLSBERG is involved in the brewery businesss of manufacture and distribution primarily in Malaysia. CARLSBERG 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 54.875sen (Interim 5sen and First/Final 65.5sen less tax and Special 2sen tax exempt)
• FY2010 Nett 43.5sen (Interim 5sen, Interim Special 2.5sen, Final 7.5sen and Special 43sen less tax)
• FY2009 Nett 17.25sen (Interim 5sen, Final 7.5sen and Special 10.5sen less tax)

RETAINED EARNINGS (Distributable Only)

• 1Q2012 : RM181million (less RM376million consolidation adjustments -MFRS adoption impact)
• FY2011 : RM477million     FY2010 : RM438million     FY2009 : RM363million 

OTHERS

• 1Q2012 : EPS: 17.13sen   NTA: 110sen   PE: 15.0   Price: RM10.30 @Jun 1st

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. The question is will CARLSBERG do another special dividend? If so, when and how much? Am unsure about the RM376M for consolidation adjustments, but company have RM100M cash. Assuming each quarter earning is consistent with RM47M for 2012, should be able to cover total expected dividends for 2012.
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

2658 AJINOMOTO

AJINOMOTO is involved in food ingredient and related products in the food industry. AJINOMOTO 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 Gross 20sen (First 11sen less tax and 9sen TE) or Nett 17.25sen
• FY2011 Gross 20sen (First 9sen and Special 2sen) less tax and Final 9sen Tax Exempt, or Nett 17.25sen
• FY2010 Gross 18sen (First 9sen less tax; Final 9sen tax exempt) or Nett 15.75sen
• FY2009 Gross 17sen (First 8sen less tax; Final 9sen tax exempt) or Nett 15sen

RETAINED EARNINGS (Distributable Only)

• FY2012 : RM___million
• FY2011 : RM148million     FY2010 : RM132million     FY2009 : RM117million 

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. The question is will AJINOMOTO dish out another set of special dividend? If so, when? My take is high odds given the increasing retained earnings.
UPDATE:
24May12: AJINOMOTO indeed released news with gross dividend of 20sen. Congratz to holders!

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

3719 PANAMY

PANAMY is involved in the Panasonic range of electrical appliance products. Panasonic is a trusted brand for home appliance products in Malaysia. It is listed in KLSE since 1966.
PANAMY have been a consistently profit performer and distributing increasing dividends to shareholders (based on recent financial reports); some of which are listed below.


DIVIDENDS

• FY2012 Gross ___sen or Nett ___sen
• FY2011 Gross 145sen (Interim 15sen, Final 35sen, Special 95sen) less tax or Nett 109sen
• FY2010 Gross 120sen (Interim 15sen, Final 35sen, Special 70sen) less tax or Nett 90sen 
• FY2009 Gross 105sen (Interim 15sen, Final 35sen, Special 55sen) less tax or Nett 78.75sen

RETAINED EARNINGS (Distributable Only)

• FY2012: RM587million
• FY2011: RM586million     FY2010: RM558million     FY2009: RM541million

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. The question is will the company continue with the yearly increasing special dividend? My take is high odds that will recur and is purely based on the high amount in retained earnings. So am watching closely for positive news (^_^) in the next quarterly report season; which incidentally is in the next few days, else next week; latest by 31May.

UPDATE: Latest 4Q12 quarter came out on 30May, with a shocker EPS of 12sen vs 24sen prior year, due to lower fan sales in Middle East countries; plus delaying dividend announcement. Price took a beating following day, eventhough basic fundamental remains. However outlook for FY ending 2013 will be challenging due to continual euro zone financial crisis and uncertain political situation in the Middle East. Long term investor will probably continue to hold until dividend quantum announcement before position re-evalution.
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