Fri, Nov 20, 2020 - 1:25 PM
SHARES of Singapore Press Holdings T39 advanced on Friday amid active trading.
They surged as much as 10.5 per cent or S$0.11 to hit S$1.16 at around 11.08am, according to Shareinvestor data. The last time the counter closed at such levels was in late July this year.
SPH clocked heavy volumes on Friday, with 42.6 million shares changing hands as at 1.05pm, when the stock price also maintained at S$1.16 on a cum-dividend basis. It was the third-most traded by value on the Singapore bourse, and fourth by volume.
About 65 large trades - each valued at more than S$150,000 - were done during the morning trading session.
Last month, the stock briefly dipped below S$1. The first time it did so was on Oct 14 morning, after the board slashed dividends as the media and property group fell into the red. It fell again on Oct 29 to Nov 2, to close at around S$0.99 to S$0.995.
SPH, which publishes The Business Times, recommended a final cash dividend of one Singapore cent per share for its fiscal year ended Aug 31, 2020, down from 5.5 cents a year ago. The dividend is payable on Dec 18 after books closure on Dec 4.
Separately, the manager of SPH Reit, which is sponsored by SPH, announced on Wednesday that its non-executive director David Chia, 65, has resigned to pave the way for the "renewal of board members".
SPH Reit units also rose on Friday, gaining 1.9 per cent or 1.5 Singapore cents to trade at 81.5 cents as at 1.09pm.
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