Eurospan announced a special dividend of 40sen which goes ex on 6 Jan 2011. The special dividend is good for shareholders as the company's ROE is pathetic: 5% in 2009 and 1% in 2010.
Major shareholders are selling the shares aggressively, taking advantage of high share prices according to them (read the news in the edge).
Expect more selldown after dividend goes ex! Target price RM0.70.
Expect more selldown after dividend goes ex! Target price RM0.70.
