KUALA LUMPUR: Shares of Fraser & Neave Holdings Bhd (F&N) surged in early trade on Tuesday, Nov 9 after it declared a special interim net dividend of RM1.10 a share.
At 9am, it was up 68 sen to RM15.30. There were 17,800 shares done.
The FBM KLCI rose 1.87 points to 1,521.71. Turnover was 10.33 million shares valued at RM8.09 million. However, the broader market was cautious, with 92 losers to 16 gainers.
AmResearch reaffirmed its BUY rating on F&N with an unchanged fair value of RM15.20/share.
F&N had declared a special interim net dividend of RM1.10 a share, effectively distributing the entire net gain of RM324.7 million from the divestment of Malaya Glass Products Sdn Bhd back in May 2010. The group also declared a final net dividend of 38 sen a share, bringing total net dividends to RM1.64 a share for FY10.
'Our 12-month fair value of RM15.20 a share offers a potential total return of 15%, based on the current theoretical ex-price of RM13.50 a share,' said AmResearch in its research note on Tuesday.
At 9am, it was up 68 sen to RM15.30. There were 17,800 shares done.
The FBM KLCI rose 1.87 points to 1,521.71. Turnover was 10.33 million shares valued at RM8.09 million. However, the broader market was cautious, with 92 losers to 16 gainers.
AmResearch reaffirmed its BUY rating on F&N with an unchanged fair value of RM15.20/share.
F&N had declared a special interim net dividend of RM1.10 a share, effectively distributing the entire net gain of RM324.7 million from the divestment of Malaya Glass Products Sdn Bhd back in May 2010. The group also declared a final net dividend of 38 sen a share, bringing total net dividends to RM1.64 a share for FY10.
'Our 12-month fair value of RM15.20 a share offers a potential total return of 15%, based on the current theoretical ex-price of RM13.50 a share,' said AmResearch in its research note on Tuesday.
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