Q: Around Feb 25 the stock took a large upward jump.
On April 8th it dropped nearly 3%
Do you have any insight why the 2 significant movements?
Also to business questions:
i) what is the latest plan for divesting their pork business and
ii) they recently raised their dividend 9%. What is their payout ratio?
Thanks
On April 8th it dropped nearly 3%
Do you have any insight why the 2 significant movements?
Also to business questions:
i) what is the latest plan for divesting their pork business and
ii) they recently raised their dividend 9%. What is their payout ratio?
Thanks
5i Research Answer:
MFI reported quarterly earnings on Feb 25, with a nice earnings 'beat' which boosted the stock. There was no material news on April 8 but it was a very bad overall market day. On the pork business, the spin off is set to close in the second half of the year. A shareholder meeting to approve it is set for June 25. 12-month payout ratio is 19%.