Elite KSB

Elite KSB: is +14% at $0.605. Investors may be cheering the confirmation of a one-off special div of 35.5ct/sh, representing 67% of the net sale proceeds of the $71.8m from the completion of disposal of KSB Distribution, Jordon Int’l Food Processing, Soonly Food Processing and SAFA Gourmet Food (reference the 12 Oct ’12 circular to shareholders). The ex-div date is 16 Nov 2012. This comes on top of a 1.5ct/sh dividend declared on 28 Aug ’12. Separately, the co announced a couple of mgt resignations / re-designations following the business units’ disposals.