Pleass Global Ltd quoted an additional 90,210 shares at $2.755 per share last week on the South Pacific Stock Exchange (SPX) through a Dividend Reinvestment Plan (DRP).
The company made the announcement on SPX, where it is listed under the listed company code PBP.
PBP declared a dividend of four cents per share on August 16, 2023, which amounted to a total dividend pay-out of $279,766. It also offered a dividend reinvestment option, where shareholders can either cash their dividend or reinvest it at the discounted price of $2.755 per share, against the prevailing market price of $3.35.
“Out of (the total dividend payout of $279,766), $31,238 was paid out in cash whilst $248,529 representing 89 per cent of the dividend was reinvested into additional shares,” PBP said.
“This is the tenth consecutive dividend declaration in which PBP has offered a DRP option to its shareholders which is encouraging given the amount being reinvested into additional shares. The investment does not just indicate the confidence amongst shareholders in the prospects of PBP but also reaffirms the willingness of our investment community to use share investments as an alternate income stream to accumulate wealth over the long-term” said the SPX executive director Gyanesh Rueben.
PBP was listed on the South Pacific Stock Exchange (SPX) on 4th February 2009 and is currently one of the five listed entities representing the Manufacturing and Wholesale Sector, operating a state-of-art water bottling operation at source for the domestic and export markets.
PBP also operates a business unit selling single use daily items including Packaging and operates an adventure eco-tourism park.