Merkado Barkada
October 17, 2024 | 8:10am
Semirara Mining and Power [SCC 34.00 unch; 401% avgVol] [link] declared a P2.50/share special cash dividend, payable on November 14 to shareholders of record as of October 29. This declaration brings SCC’s FY24 dividend total up to P6.00/share, a yield of 18% using SCC’s market price at yesterday’s close.
MB bottom-line: “Friend whose whole personality is owning SCC” should be a Halloween costume this year, because I’m sure most investing friend groups have a form of this person in the group chat. I have two. Not that they’re wrong. Oh, they’re not wrong. SCC prints money. They’re technically correct, which as we all know is the best kind of correct. But that doesn’t make them any less insufferable in times like these when SCC declares yet another fat div. For those who are new to dividends, the “ex-date” for this dividend is one business day before the date of record; that’s the first day that the stock trades “without” the right to receive dividends. To get this dividend, you need to either already own this stock or buy it before the ex-date. If you buy it on the ex-date or beyond, you will not receive this dividend.
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