Wednesday, 24 December 2014
Payday for JobStreet (JOBST) shareholders
So today's the day. The day of the big pay-out from JobStreet.com to their shareholders. With the money from SEEK Asia now in, as payment for JobStreet.com's job portal business, the shareholders are set to receive the dividends of RM2.65 per share paid directly into their bank accounts.
But first, on 10 Dec 2014 when JobStreet.com's shares (JOBST) on the Bursa Malaysia went ex-dividend, the price of the share was adjusted from RM2.92 to RM0.29. Effectively, this meant that JOBST now qualified as a penny stock.
The RM0.29 value for a JobStreet share reflects the residual value of the company which is actually still quite substantial. JobStreet.com still has on-going investments in countries such as Hong Kong and Taiwan, and of course locally, and they have a building in Kuala Lumpur which is used to house the ex-JobStreet staff who now work for SEEK Asia.
And as penny stock goes, the JobStreet shares attracted a lot of interest on the stock market, mostly as I would believe from speculators. A total of 22,760,800 shares changed hands on that day, making it one of the most active counters on the Bursa. Even today, there is still a lot of transactions.