13-May-2015 Dividend Announcements - DIAL, PAP & ALUM

[SrirangaVeteran]

DIALOG AXIATA PLC
Company ID: - DIAL
Date of Announcement: - 13.May.2015
Dividend per Share: - Rs. 0.13 per share (Subject to tax) / Final Dividend
Financial Year: - 2014
Shareholder Approval: - Required
AGM: - 16.Jun.2015
XD: - 17.Jun.2015
Payment: - 25.Jun.2015
Share Transfer Book Open

[Market R]

EPS 0.24 profits went up
big increese in income tax & financial cost when compiring with previous year same quarter.

[SrirangaVeteran]

PANASIAN POWER PLC
Company ID: - PAP
Date of Announcement: - 13.May.2015
Dividend per Share: - Rs. 0.30 per share / Final Dividend
Financial Year: - 2014/2015
XD: - 22.May.2015
Payment: - 03.Jun.2015
Share Transfer Book Open

[yaka]

EPS 0.24 profits went up
big increese in income tax & financial cost when compiring with previous year same quarter.

also I have a question. they say the in the press release they have not paid the newly adopted taxes as at 31 march due it's not enacted. what does that mean?? is there a chance that they would not have to pay those amount if the government change?

[slstockVeteran]

The Super Tax is still not official, it was proposed.

So once it becomes officially approved they are liable to pay. But if something happens in the middle ( like in alcohol manufacture case), it can be reversed.

So in summary as of now, none of the companies have incorporated into MArch financials the super tax. If it happens then starting June they will have to start paying .

This super tax is a mess.

EPS 0.24 profits went up
big increese in income tax & financial cost when compiring with previous year same quarter.

also I have a question. they say the in the press release they have not paid the newly adopted taxes as at 31 march due it's not enacted. what does that mean?? is there a chance that they would not have to pay those amount if the government change?

[BackstageTop contributor]

The Super Tax is still not official, it was proposed.

So once it becomes officially approved they are liable to pay. But if something happens in the middle  ( like in alcohol manufacture case), it can be reversed.

So in summary as of now, none of the companies have  incorporated into MArch financials the super tax.  If it happens then starting June they will have to start paying .

This super tax is a mess.

EPS 0.24 profits went up
big increese in income tax & financial cost when compiring with previous year same quarter.

also I have a question. they say the in the press release they have not paid the newly adopted taxes as at 31 march due it's not enacted. what does that mean?? is there a chance that they would not have to pay those amount if the government change?

They can tie this up in court for some time, they could also negotiate paying this in tranches.

[slstockVeteran]

It's already disclosed that they can pay in tranches I believe. It not 1 time pay everything.

The Super Tax is still not official, it was proposed.

So once it becomes officially approved they are liable to pay. But if something happens in the middle  ( like in alcohol manufacture case), it can be reversed.

So in summary as of now, none of the companies have  incorporated into MArch financials the super tax.  If it happens then starting June they will have to start paying .

This super tax is a mess.

EPS 0.24 profits went up
big increese in income tax & financial cost when compiring with previous year same quarter.

also I have a question. they say the in the press release they have not paid the newly adopted taxes as at 31 march due it's not enacted. what does that mean?? is there a chance that they would not have to pay those amount if the government change?

They can tie this up in court for some time, they could also negotiate paying this in tranches.

[yaka]

ok SLS understood what u said, but it's said treasury is empty...... so y the government not enact this??? is this just only a "gonibilla"??? does it usually take this long?? or is government afraid of any retroactive outcome?

[slstockVeteran]

To say is easy. To do is hard ( is done with yaha palanaya and legally)

There are so many issues with this tax. Double taxation. How to tax groups vs subsidiaries etc etc etc

ok SLS understood what u said, but it's said treasury is empty...... so y the government not enact this??? is this just only a "gonibilla"??? does it usually take this long?? or is government afraid of any retroactive outcome?

[Market R]

Attractive divident from PAP
will their financial statement more attractive?

[SrirangaVeteran]

ALUMEX PLC
Company ID: - ALUM
Date of Announcement: - 13.May.2015
Dividend per Share: - Rs. 0.25 per share (Liable to 10% Dividend Tax) / Final Dividend
Financial Year: - 2014/2015
Shareholder Approval: - Required
AGM: - 22.Jun.2015
XD: - 23.Jun.2015
Payment: - 02.Jul.2015
Share Transfer Book Open

[SrirangaVeteran]

May 13 Sri Lankan shares ended slightly weaker on Wednesday, slipping from more than 10-week high hit in the previous session, led by diversified shares as political uncertainty weighed on sentiment.

The main stock index ended 0.19 percent weaker at 7,245.05, slipping from its highest close since Feb. 27 hit on Tuesday. It had gained 4.98 percent since the central bank cut key rates on April 15, while yields on t-bills have fallen 46-61 basis points since then.

Earnings of 37 listed companies released so far have on average increased 19.5 percent year-on-year in the first quarter, a stockbroker said.

Foreign investors were net buyers for the first time in eight sessions. They bought 47.1 million rupees ($352,808.99) worth of shares on Wednesday, extending the net foreign inflow so far this year to 2.92 billion rupees worth of shares.

Turnover was boosted by local buying and stood at 1.23 billion rupees, more than this year's daily average of around 1.06 billion rupees.

Investors are waiting for direction on the political front and cues from earnings, analysts said, adding the market could be dull in the medium term until the perception of political uncertainty is addressed.

Sri Lanka's parliament is expected to debate and pass some key reforms next week and President Maithripala Sirisena has promised to dissolve parliament after that.

Shares of conglomerate John Keells Holdings Plc ended 0.69 percent weaker, while Carson Cumberbatch Plc fell 1.57 percent.

($1 = 133.5000 Sri Lankan rupees)

(Reporting by Shihar Aneez and Ranga Sirilal; Editing by Anand Basu)