Sino Agro Food Inc (fka SIAF)

[ks1977]

Is this good enough for the skeptics?

Of course not! Even most of us longs aren't too confident... However;


Q1-report:

$0.05/share to be declared and payable during Q4 2018, date to be determined

Q2-report:

The Company reiterates its dividend policy announced last quarter; that is: For 2018: USD 0.05/share to be declared and payable during Q4 2018, ex-dividend and payment dates to be determined and publicized as soon as arrangements are finalized

CC Q2:
expected to be cash-flow positive mid/late Q4 (we are now mid Q4) and I also believe they said December for the cash dividend (not sure if that was ex date, or also the announcement)

Q3-report:

In the meantime, we are encouraged that positive operational trends will continue to drive improved financials, and grow the value of SIAF, which we believe is deeply undervalued. We are confident in our long term prospects and, therefore, plan to issue a dividend before year-end

I.e there is no change of plan for the cash dividend so far. They have targeted Q4 ever since they announced the cash dividend policy 6 months ago. Also, as I've stated several times before, Solomon knows when the ARs (from TRW) are due and it should be fairly easy to plan ahead for TRW (i.e Solomon) so that they are able to pay those ARs on time.

If it had been any other company than SIAF the market would have priced in the cash dividend by now (by which I mean 5-6 months ago), which just shows how deep the credibility issue is.

Speaking of which; in both Q1 and Q2 they stated "declared and payable during Q4 2018" while they now stated "plan to issue a dividend". They should have kept the wording from Q1 and Q2 since the change of wording leads to confusion and uncertainty (a question for the CC?). I'm not familiar with this terminology, and I don't like the possible indication from the change of words, but investopedia uses the term "issue a dividend" (www.investopedia.com/terms/d/dividend.asp) and issuing a dividend can also mean payment

Payment Date: The company issues the payment of the dividend on the payment date, which is when the money gets credited to investor’s account