GULF Jumps Nearly 4%, Expecting to Book ฿650Mn after INTUCH Offers a Bt1.35 Dividend!

GULF Jumps Nearly 4%, Expecting to Book ฿650Mn after INTUCH Offers a Bt1.35 Dividend!

The share price of Gulf Energy Development Public Company Limited (GULF) rose ฿1.25/share or 3.73% to ฿34.75/share as of 10:28 local time in Thailand on Wednesday.

 

The rise in GULF’s share price came after the announcement of a dividend payment from Intouch Holdings Public Company Limited (INTUCH) last night at a value of ฿1.35/share, whereas GULF currently holds a total of 480,976,414 shares in INTUCH, representing a 15% stake in the company.

 

In addition, GULF will likely record 649.32 million baht as a profit from the shareholding of INTUCH within the second quarter of 2021, which would result in significant growth in the company’s revenue this year.

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