Berjaya Sports Toto (BST)went ex-all today. The ex-price was RM4.32. As there are many sellers, there are many buyers. I expect the buyers to be acting on the advice of BST Treasury and they are mopping up weak sellers in a seemingly weak market today.The dividend pay-out of RM300 and the distribution in specie of 1 share for every 14 shares held on 10 July will be paid out on 27 July. Each share was valued at RM4.92 at its cum price.
Today is not a good day to benchmark the potential value of BST but I believe it is resilient enough to weather any storm on the market. With the potential of Power Toto coming on stream soon with a jackpot of a minimum RM3 million, expect more profit from BST which can be translated in to good dividends.
Do not expect any more distribution of shares in specie at least for a couple of years but I believe BST will continue to give good dividends this fiscal year and in the ensuing years.
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