ppn went ex-dividend today

PPN goes ex-dividend today so the buyers could go back into hibernation, possibly until the half year report is released early next year.

Div CPS Franked Ex-Div Date Pay Date
Final 3.98 100.00 8/12/2010 21/12/2010
Final 2.06 100.00 3/09/2009 23/09/2009

At the 2010 AGM it was mentioned that we might expect half yearly rather than a single annual dividend in future. Could there be an interim dividend declared in early 2011?

PPN's biggest "cash cow" is the Showgirls Bar 20 strip club in King St. PPN owns both the building and the business so it is not paying rent. According to the news media, Bar 20 sits on very desirable prime real estate but values on the PPN balance sheets may be very conservative.

PPN also derives income from rental on the world famous Daily Planet Brothel but PPN doesn't own the "business". PPN is therefore just a landlord although many of us erroneously believed in 2003 that we were buying shares in a brothel and getting a slice of the action.

PPN's income has been fairly stable over the past few years and fully franked dividends were declared in both 2009 & 2010.

There are only about 32.7 million shares on issue with a majority shareholder holding about 26.4 million of these [80.5%] leaving the rest of us with about 6.3 million shares. The Top 20 shareholders own most of these and will not give them away cheaply.