Friday, 24 February 2012
Eye-catching Dividend by UOA Dev
For its 2011Q4, UOA development registered a net profit of RM139mil, which is more than its revenue of RM137mil for the corresponding quarter. This is because UOA Dev has carried out revaluation of its investment properties at the end of last year and the gain of RM113mil is added into its 4th quarter result. Without this one-off gain, UOA dev's profit in this 4th quarter should be around RM30mil, which is not very remarkable.
For the whole financial year of 2011, UOA development recorded a revenue of RM614mil and net profit of RM385mil. With the share issued at 1195.86mil, its EPS will be 32.18 and PE ratio 4.69 base on yesterday's closing share price at RM1.51.
UOADEV: 50d MA as support?
At the same time, UOA development also proposed a generous dividend of 10sen per share, which give a yield of 6.6% base on its share price of RM1.51 yesterday. The dividend yield is much better than FD rate and should be among the highest in property sector.
Nevertheless, its share price today seems not responding to the announcement of proposed dividend.