HNG 0.00% 15.5¢ hgl limited

hgl ltd 21million cash received today

  1. 147 Posts.
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    The sale of HGLs stake in MMC contrarian will net HGL just over $21million in cash today.
    HGL current has a market cap of 70 million and is aninvestment company with a mix of listed stock investments and directly owned import and distribution businesses. Dividends are usually payed in relation to core operating profit - they expect some heavy stock revaluation losses(and loss of the big mma dividend) this year but hopefully the dividend should still be very strong.
    $21million to invest at the moment - lets hope they can pick up some bargains - or they could even wipe out most of their debt. The company has been buying back its own shares as well.

    Note: stock code is HNG and name is HGL Ltd - this is sometimes confused - eg. there was a announcement on the asx on the 29/10 under the code HGL - don't think the company noticed the mistake.
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