Hot Stocks BAT, Panasonic among top gainers on dividends, earnings outlook

by **Cals** Thu 14 Aug 2014, 01:24

Hot Stocks BAT, Panasonic among top gainers on dividends, earnings outlook

Business & Markets 2014

Written by Ahmad Naqib Idris Adzman Shah of theedgemalaysia.com

Wednesday, 13 August 2014 16:27

KUALA LUMPUR (Aug 13): British American Tobacco (M) Bhd (BAT) and Panasonic Manufacturing Malaysia Bhd were among top gainers on Bursa Malaysia today as investors eyed the companies' dividends and earnings outlook.

At 3.30pm, BAT rose 24 sen or 0.3% to RM71.04, with some 112,500 shares done. The stock had earlier reached a high of RM71.60.

Meanwhile, electrical appliances manufacturer Panasonic gained six sen or 0.3% to RM21.24.

At about 4.20pm, BAT and Panasonic changed hands at RM70.88 and RM21.26 respectively

Panasonic plans to pay total dividends of 58 sen a share for the fourth quarter ended March 31, 2014. The divdends comprise a final single-tier dividend of 35 sen and a special single-tier portion of 23 sen.

The dividends, which require shareholders' approval, will bring Panasonic's full-year dividends payout to RM1.03 a share. Shares of Panasonic will trade ex-dividend on September 5 this year.

BAT has proposed to pay a second interim dividend of 78 sen a share for the second quarter ended June 30, 2014. The payment date falls on this August 29.

The rise in BAT's share price is also closely watched as the only cigarette manufacturer listed on Bursa Malaysia is expected to gain from institutional investor demand.

An analyst said BAT’s share price has been on an uptrend for a while mainly due to the privatisation of JT International Bhd (JTI) and the government’s move to restrain cigarette trade.

“Currently, BAT is the sole listed tobacco company after the privatisation of JTI. Therefore, funds that had previously invested in JTI have now switched to BAT.

“The Customs are now more aggressive in their enforcement against the illicit cigarette trade. BAT may see its volume rising, if the move proves to be successful,” he told theedgemalaysia.com.