The ex-dividend date for Eastern Company’s (EAST.CA) 1:2 bonus issue (one bonus share for every two shares held) is set for 16 August 2016. The company’s number of shares will increase to 450mn from 300mn currently. Also, the company’s Board of Directors has agreed on a 1:5 stock split in an effort to further improve liquidity but will call for an EGM for shareholder approval.
Eastern Company: EGP164.83 as of 1 Aug 2018, Rating: Neutral, TP: EGP180.00/share, MCap: USD2,773mn, EAST EY/EAST.CA