Hot Stock Hup Seng rises 4% ahead of ex-dates for dividends, bonus and share split

by **Cals** Tue 25 Mar 2014, 00:35

Hot Stock Hup Seng rises 4% ahead of ex-dates for dividends, bonus and share split

Business & Markets 2014

Written by Ho Wah Foon of theedgemalaysia.com

Monday, 24 March 2014 15:45

KUALA LUMPUR (March 24): Hup Seng Industries Bhd jumped by 4% today ahead of the ex-dates for its recently announced interim and special dividends, bonus issue and share split.

At 3.14 pm, the Batu Pahat-based biscuit maker rose 27 sen or 4% to RM6.97 per share, after hitting a high of RM7.01 in earlier trades.

The company had a net asset per share of RM1.25 at end-December 2013.

“There is no other reason for Hup Seng to rise so high except for the dividends, bonus and share split issues,” said Sam Ng, a senior remisier with InterPacific Securities.

The ex-date for Hup Seng’s special dividend of 3 sen per share and interim dividend of 5 sen per share falls on March 27 (Thursday). The entitlement date for both falls on March 31.

The two dividends will be payable on April 18.

The ex-date for its “one bonus share for three existing shares” falls on April 2. Entitlement falls on April 4.

The same ex-date and entitlement date for bonus issue also apply for its one-into-five share split.

Hup Seng Industries is a biscuit maker controlled by the family of lawyer Datuk Kerk Choo Ting, a former deputy minister.

The company posted a net profit of RM9.35 million for the fourth quarter to December 2013 and RM36.74 million for the full year of 2013.

In its notes accompanying the latest results, Hup Seng says it expects 2014 “to be increasingly challenging as the global economic
environment has become more difficult.”