Magnum shares down on a mixture of bad news

AllianceDBS analyst Cheah King Yoong said the estimated prize payout ratio was 71% for the first quarter compared to the theoretical payout ratio of 63%.

PETALING JAYA: A mixture of bad news – comprising its poorer-than-expected results, a potentially fat tax bill of RM476.4mil and no interim dividends – continued to weigh down on the share price of Magnum Bhd.

Magnum closed the day down 22 sen to RM1.88. On a year-to-date basis, the stock is now down 13.36%. At this price, the stock offers a dividend yield of 6.88%.