Boustead a good dividend paymaster

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Boustead is a good dividend paymaster. It pays dividend quarterly and the last dividend of 12 cents tax free was paid on 30th December 2010. I expect Boustead to pay another dividend in March 2011.The price has appreciated quite a lot and currently it has gone into a consolidation stage. Currently it is trading at about RM5.50 which may be an opportunity if the consolidation is about to end. If we look at the support line it is now sitting at the immediate support line and if this support is broken down on further consolidation it may drop to a level near to RM4.92. My opinion is that at RM4.92 it has good value and I will buy it for investment.

    The above Boustead chart is added to highlight a crucial moment. Crucial because today (8th Feb 2011) it close at RM6,03 which barely broke through the resistance, with good volume. Tomorrow will be even more crucial because if the strength of Boustead maintain its upward momentum and close even higher than RM6.03 (with volume) then RM6 will be the new support level and the price will go higher from here otherwise if the closing price on 9th February 2011 is below RM6.03 then it is a failed breakthrough. So open your eyes wide tomorrow.

Boustead has value for investors and has excitement for traders

The Boustead chart above is captured on 2nd December 2010.
Current price is about 5.50
Even at this price I think, it is still a good long term buy for investors who fancy stocks that pay attractive dividend on a regular basis. It has just declared a single tier 12 sen dividend which will go ex on 14th December 2010. This is the third dividend declared in as many quarters. First and second quarter dividends are 5 sen (single tier) and 10 sen (single tier) respectively making a total of 27 sen dividend so far. I expect Boustead will declare a final dividend in 3 months time.
Chartwise it has climbed from about 4.29 level (24 Sept 2010) to a recent peak of 6.05 (26 Oct 2010)
On 24 th November 2010 it had retraced slightly more than 50% to 5.08.
Currently it resumes its uptrend move . It should be able to go higher from here and if the 6.05 level of resistance is broken it may climb even higher

The above opinion is mine and if ever you use the info for investment or trading you need to take you own risk..