Some have said that Second Chance Properties Ltd is a company that is REIT like. This perception could be due to the fact that much of its success stems from its timely investments in real estate at depressed prices.
They announced an annual dividend of 3.3c and a special dividend of 0.5c this year. NAV/share is 35.72c. So, buying some shares closer to the NAV/share would give an attractive dividend yield, discounting the special dividend. At the last closing price of 40c/share, a 3.3c dividend would be a nice 8.25% dividend yield if the payout should be repeated next year. Seems like a decent proposition.
However, I would draw attention to its earnings per share (EPS) which has declined year on year. For 12 months ended June 2011, EPS was 7.2c. For the 14 months ended August 2012, EPS was 5.62c. 2 more ......In reply to a comment from Desmond: here.
Some have said that Second Chance Properties Ltd is a company that is REIT like. This perception could be due to the fact that much of its success stems from its timely investments in real estate at depressed prices.
They announced an annual dividend of 3.3c and a special dividend of 0.5c this year. NAV/share is 35.72c. So, buying some shares closer to the NAV/share would give an attractive dividend yield, discounting the special dividend. At the last closing price of 40c/share, a 3.3c dividend would be a nice 8.25% dividend yield if the payout should be repeated next year. Seems like a decent proposition.
However, I would draw attention to its earnings per share (EPS) which has declined year on year. For 12 months ended June 2011, EPS was 7.2c. For the 14 months ended August 2012, EPS was 5.62c. 2 more ......
Some have said that Second Chance Properties Ltd is a company that is REIT like. This perception could be due to the fact that much of its success stems from its timely investments in real estate at depressed prices.
They announced an annual dividend of 3.3c and a special dividend of 0.5c this year. NAV/share is 35.72c. So, buying some shares closer to the NAV/share would give an attractive dividend yield, discounting the special dividend. At the last closing price of 40c/share, a 3.3c dividend would be a nice 8.25% dividend yield if the payout should be repeated next year. Seems like a decent proposition.
However, I would draw attention to its earnings per share (EPS) which has declined year on year. For 12 months ended June 2011, EPS was 7.2c. For the 14 months ended August 2012, EPS was 5.62c. 2 more ......
