CASH IS KINGThe sale of HGLs stake in MMC contrarian will net...

CASH IS KING
The sale of HGLs stake in MMC contrarian will net HGL just over $21million in cash today.
HGL current has a market cap of 70 million and is aninvestment company with a mix of listed stock investments and directly owned import and distribution businesses. Dividends are usually payed in relation to core operating profit - they expect some heavy stock revaluation losses(and loss of the big mma dividend) this year but hopefully the dividend should still be very strong.
$21million to invest at the moment - lets hope they can pick up some bargains - or they could even wipe out most of their debt. The company has been buying back its own shares as well.

Note: stock code is HNG and name is HGL Ltd - this is sometimes confused - eg. there was a announcement on the asx on the 29/10 under the code HGL - don't think the company noticed the mistake.