Wednesday, September 14, 2011

Bernas hits 6-day low, dividend may support

Written by Joseph Chin of
Wednesday, 14 September 2011 16:03

KUALA LUMPUR: Shares of Padibernas Nasional Bhd slumped to a six-day low of RM3.21 in late afternoon trade on Wednesday, Sept 14 in line with the weak market sentiment.

However, its interim dividend of 15% taxable dividend, which goes ex on Sept 21, could provide some support. The dividend would be paid on Oct 21.

At 3.47pm, Bernas was down 19 sen to RM3.21 with 453,400 shares done.

The FBM KLCI fell 9.15 points to 1,438.85. Turnover was 560.40 million shares valued at RM849.42 million. Declining stocks beat advancers 610 to 115 while 232 counters were unchanghed.

At RM3.21, this was the lowest for Bernas since last week, when it closed at RM3.15 on Sept 6.

The share price surged to RM3.38, up 23 sen, on Sept 7 in heavy volume after Bernas announced the ex date for the dividend on Sept 6.

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