Dutyfree International has been doing share buy back for the past month, and its traded price has been increasing steadily over the same period of time.
Chart for past 1 year:
Increasing price with increasing volume.
Share buy back breakdown:
| Date of purchase | no. of shares | average price | TOTAL VALUE |
| 04/01/2013 | 850,000 | 0.40471 | 344003.5 |
| 03/01/2013 | 350,000 | 0.39714 | 138999 |
| 02/01/2013 | 550,000 | 0.39 | 214500 |
| 28/12/2012 | 700,000 | 0.38964 | 272748 |
| 27/12/2012 | 500,000 | 0.38748 | 193740 |
| 26/12/2012 | 462,000 | 0.38 | 175560 |
| 21/12/2012 | 220,000 | 0.375 | 82500 |
| 19/12/2012 | 100,000 | 0.35 | 35000 |
| 18/12/2012 | 200,000 | 0.35 | 70000 |
| 14/12/2012 | 20,000 | 0.33 | 6600 |
| 13/12/2012 | 156,000 | 0.32821 | 51200.76 |
| 12/12/2012 | 150,000 | 0.325 | 48750 |
| TOTAL | 4,258,000 | 0.383655 | 1633601.26 |
Based on the current trends, there seem to be an increasing share buy back price. The increase in volume is due to the daily share buy backs. On last Friday, there was a buy back of 850k shares, which is higher than its typical daily share buy back. The volume also represent more than 50% of the traded volume (1.4M) on that day.
There seems to be some upside on this. I have entered a small position at 0.405 in this counter on Friday earlier.
Other notes:
Dividend history:
2012:
0.01 + 0.01 + 0.0025 = 0.0225
2011:
0.0025 + 0.0075 = 0.01
no dividend in earlier years from 2004-2012.
If DutyFree can maintain its dividend of 0.0225, it is still a decent 5.55% based on its last done price of 0.405.
1 comment:
special dividend coming soon within 3 mths upon completion of sale of JB Zon
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