SP Ausnet - Script Dividend Scheme and Rights Issue

I have SP Ausnet shares in my portfolio since 2007. During the last financial crisis when its price dropped below S$1 I average down my cost. Frankly I like the share as its price has been quite stable and dividend payout consistently good. I was looking for opportunity to buy more.

SP Ausnet has a dividend scheme in place, but I have never taken part. 2 reasons: First, I think the discount is not attractive enough. They used to offer 2~3% discount from the average trading place over a certain period. This time round they don't offer any discount! The form states 0% discount in bold. When I saw the form I felt that they have taken the investors for granted. The 2nd reason is that they make the form in such manner that once you accept teh script once, you are deemed to accept the script in all future dividends by default, until you submit a form to CDP to withdraw your participation. There is no way you can opt for receiving the script only for the present dividend.

SP Ausnet has annouce rights issue of 3 out of 20 shares at the price of S$1.25 per shares. Initially I thought this was a good opportunity to buy more shares. With the price dropped to S$1.245~1.25 now, I am no longer sure that taking up the rights issue is a good choice. I think the rights issue will end up a flop for SP Ausnet, unless the share price can pick up in the next few days. I am waiting till next week to decide my participation.

27 April 2012

I have to close this month's account a day earlier since I am going for an overseas tour tonight.

This April has been a quiet month with thin trading volume in SGX. In my opinion, global stock market is also going sideway. STI ended today at 2981.58, 29 points lower than last month. SG corporates' good earning failed to offset the Europe worry and hence did not boost up the index.

As at today, my portfolio value stands at almost the same level as end of last month. To be exact, 0.1% higher. Nothing much happened to the stocks in my portfolio. I also did not do much there, since the STI is at around 3000 and the direction is not clear. I participated in the rights issue of Global Inv. and Pac Andes. I received S$1,981 in dividend this month.

As many companies have declared dividend, I will received quite a big sum next month. I will reinvest the money into the market should there be good opportunities.

Below are the top 30 holdings. Changes are mainly at the bottom of the list.

1.   SPH
2.   Semb Corp
3.   OCBC Bk
4.   ComfortDelGro
5.   DBS
6.   F & N
7.   SP AusNet
8.   ST Engineering
9.   SGX
10. Starhub
11. MetroHldg
12. SembMar
13. Kep Corp
14. Nikko AM STI ETF 100
15. CitySpring
16. FraserComm
17. CapitaComm
18. SIA
19. Ascendasreit
20. SATS
21. MacqIntInfra
22. CapitaLand
23. MapletreeLog
24. FrasersCT
25. AIMSAMPIReit
26. Sabana Reit
27. AscottReit
28. CoscoCorp
29. UE
30. ASL Marine

30 March 2012

March was not an eventful month. Share prices go yo-yo and STI goes up and down around the 3,000 mark. At the end of the month it settles at 3010.68, 15 points (0.56%) higher than end of last month.
My stock portfolio value went up in line with STI, rose 0.6% in march.

I did not do much in the month. ITwo of the counters, Global Inv and Pac Andes offer right isssues, which I will participate. I received S$2,500 of dividend this month.

Below are the top 30 counters as at 30 Mar. Not much changes compared to last month.

1.  SPH
2.  Semb Corp
3.  OCBC Bk
4.  ComfortDelGro
5.  DBS
6.  SP AusNet
7.  F & N
8.  ST Engineering
9.  SGX
10. Starhub
11. MetroHldg
12. SembMar
13. Nikko AM STI ETF 100
14. Kep Corp
15. CitySpring
16. CapitaComm
17. FraserComm
18. SIA
19. Ascendasreit
20. CapitaLand
21. MacqIntInfra
22. SATS
23. MapletreeLog
24. FrasersCT
25. Sabana Reit
26. CoscoCorp
27. Noble Group
28. AIMSAMPIReit
29. Yangzijiang
30. CWT