Bangkok--9 Apr--SET
Thirty-three of the 43 firms listed on the Market for Alternative Investment (mai) have declared dividends totaling THB 1,187 million (approx. USD 33.82 million) for 2006, generating an average dividend yield of 6.5%. The top three companies paying the highest dividends are Unimit Engineering PCL (UEC), Unique Mining Services PCL (UMS), and Lighting & Equipment PCL (L&E).
“Dividend payments for 2006 amount to 56% of dividend-paying firms’ net profits of THB 2,111 million (approx. USD 60.14 million). There are 33 out of 43 firms, or 77%, which have declared dividends, with an average dividend yield (ratio of dividend to share price) of about 6.5%,” mai President Mr. Chanitr Charnchainarong said.
Details of the top three companies generating the largest dividends are as follows:
1) Unimit Engineering PCL (UEC) paid THB 1.20 per share (divided into two payments of THB 0.50 and THB 0.70 per share) or THB 171.60 million in total. UEC’s dividend yield was 7.89%, based on its share price the day before the book-closing date.
2) Unique Mining Services PCL (UMS) paid THB 1.50 per share (split into two payments of THB 1.00 and THB 0.50 per share) or THB 105.00 million in total. UMS’s dividend yield stood at 8.52%, the day before the book-closing date.
3) Lighting & Equipment PCL (L&E) paid THB 3.70 per share or THB 101.85 million in total. The company paid THB 0.37 per share in cash and 2 dividend shares for each 3 existing shares. L&E’s dividend yield was 12.35%, based on its share price the day before the book-closing date.
“In 2006, nine companies paid interim dividends, making them increasingly attractive to investors. There are another nine firms which have not closed their books yet, so investors buying now will receive any dividends announced. Consequently, these firms continue to present a profitable opportunity for investors to gain from dividends, especially when compared to the 12-month fixed interest rates of about 3% available elsewhere,” Mr. Chanitr said.
On March 30, 2007, the mai index closed at 194.96. Its daily average turnover in Q1/2007 was about THB 203 million and total market capitalization as of March 30, 2007 was THB 22,301 million.