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Trans-Asia Q1 net profit P49.5M vs 16.1M
Posted: 12:58 PM | May 25, 2005
TRANS-ASIA Oil and Energy Development Corp's first quarter to March results:
Revenues - 207.4 million pesos vs 131.01 million
Costs and expenses - 150.5 million pesos vs 111.01 million
Provision for income tax - 7.4 million pesos vs 3.9 million
Net profit - 49.5 million pesos vs 16.1 million
Earnings per share (basic) - 0.059 peso vs 0.019
no news or fuzz on dividends. at least nothing that i know of yet. most of TA oil's revenue comes from TA power which they partly owns.
Vol. XIX, No. 13-A
Saturday, August 13, 2005 | MANILA, PHILIPPINES
Trans-Asia Oil’s capital hike gets SEC nod
The Securities and Exchange Commission (SEC) has approved the application for increase of capital stock by Trans-Asia Oil and Energy Development Corp. to P2 billion from P1 billion.
The P1 billion increase was approved last April 12 by the company’s board, led by Ramon V. Del Rosario.
At least 25% or P255.3 million of the net increase in authorized capital stock will be subscribed and fully paid via 30% stock dividends to be payable to stockholders of record at a date to be fixed by the SEC.
The company has retained earnings of P1.01 billion as of December 31, 2004.
Trans-Asia Oil is 4.34% foreign-owned as of April 12, 2005. It is engaged in exploring, mining, extracting, digging and drilling petroleum and its products, rock or carbon oils, and natural gas.
The company invests in mining, manufacturing, contracting electric power generation, distribution and servicing, aside from oil exploration here and abroad. -- Roulee Jane F. Calayag
The Philippine mania for stock dividends continues. Stock dividends are just capitalizations of retained earnings - investors already own them. Sure, if the cash dividend payout per share is kept constant then in the future there will be more absolute cash to an investor, but the cash div per share is usually adjusted downward after a significant stock div.
Stock dividends shouldn't matter that much - don't matter that much in foreign stockmarkets. But, if all others bid up a stock's price when a stock dividend is announced, well, then it's logical to play the situation, whether it makes sense or not.
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