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 ICAP, traded price higher than NAV

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kinwing
post Aug 22 2013, 10:59 PM

On my way
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559 posts

Joined: Mar 2010
From: Ipoh/Kuala Lumpur
QUOTE(cherroy @ Aug 22 2013, 10:40 PM)
Since it is a maiden dividend, I wonder can see any shareholders vote against the dividend or not.   tongue.gif

Btw, the special dividend need to incur 25% tax?
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I won't oppose special dividend for the purpose of claiming the tax credit. I only oppose if the dividend was given the Board because they gave in under pressure of certain group of shareholders who cash for other purposes such as retirement instead of putting the money for long term investment.

This post has been edited by kinwing: Aug 22 2013, 11:10 PM
kinwing
post Aug 23 2013, 08:00 PM

On my way
****
Senior Member
559 posts

Joined: Mar 2010
From: Ipoh/Kuala Lumpur
QUOTE(cherroy @ Aug 23 2013, 02:09 PM)
I taught dividend give no value.
Once the dividend being distributed, NAV drop accordingly.

Somemore, those at high tax bracket need to pay tax for the dividend received.
9 cents x 0.75 = 6.75 cents, shareholder only receive 6.75 cents (if those not eligible for claiming tax credit one, or at high tax bracket whereby illegible to claim fully )

While NAV will be deducted 9 cents due to dividend given.

Why give dividend then?
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I am not high tax bracket, so I do fine with the special dividend smile.gif. However, if those who are in the high tax bracket opposing distribution of dividend, I understand where they are coming from, so I would not qualm on their objection.
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