During this period with the Covid-19 pandemic on-going, it is not surprising to find many companies either slashing their dividend or suspending their dividend.
Among my holdings, I was pleasantly surprised by the recent announcement of Colex to issue a Special dividend of 10 cents on 4 August 2020. This company is bucking the trend. :p
On 3 Aug 2020, Colex shares were trading at $0.20 per share. A $0.10 special dividend is almost half that share price, and on 6 Aug 2020, Colex share price has rose to $0.33. A 65% increase.
Figures from Dividends.sg
Colex’s annual dividend payout is fairly consistent (see left), ranging from $0.005 to $0.006 (once in 2017 it was $0.011). Kind of predictable and boring. So yeah, $0.10 is a big jump. And the resultant dividend yield (inclusive of the other dividend payouts so far) is a whooping 31.67% (in the midst of a recession).
I am surprised from another angle, given that the earnings reports of Colex have been lacklustre for...