NEWS RELEASE:
Noble China's subsidiary declares dividend
Fri 5 Mar 99
Mr. John Pennal reports:
The company's operating subsidiary, Zhaoqing Noble Brewery, has declared a dividend from its 1998 net profit. The company's portion of the dividend is RMB 61.7-million, approximately $11.1-million (Canadian), and it will be paid in instalments over the course of this year. In light of improved cash position, the company intends to apply for approval to repurchase up to 10 per cent of its outstanding shares, up to 1,081,508 shares, through normal course open market purchases on the Toronto Stock Exchange over the next 12 months.
The stock is at its year low and when do you think a buyer of $1,081,508 shares will go after them???? As soon as approvial is obtained...Also Dividends will be payed over the course of the year, app. $1 per share...Beer sales increasing, Economy in china improving, Millions in the bank, All this for $2.25...I have never seen such a bargin before...This stock will go to $10.00 this year...I will full my RRSP acount....It may be a wait, but there are things waiting for and 5X is one of them!!! Year end will suprise everyone and that will bring another $2.00...She will go up a long ways from here...
Not an active thread though, I say due to the # of shares out...It will soon become more active as the shate price increases!!!
1st.Mate |
