I am but only human.
While my intent in buying Venture is for its consistent dividend, it definitely feels “shiok” to see its price going on an upward trajectory since the start of last November.
What caused the price to slide down from August to October and reversed from November?
Fundamentally, nothing much has changed over the period. Venture reported lower revenue and net profit since FY2023 Q1. And it’s the same from the Q3 business update at end October. So basically it boils down to quarterly outlook for manufacturing sector and/or market sentiment.
I am convinced that Venture can sustain its dividend. Hence, the slide in its price provided opportunities for me to add on to my holdings at a better yield.
There are some positive news since November. The management announced a Share Buyback Plan on 30 November and executed it once on 15 December.
Hot off the press today is the 3.2% growth for the manufacturing sector for the last quarter of the year.
4 out of my 7 purchases last year are in the green now. Looking forward to it clearing the other three hurdles.
Last hurdle is probably a bit tougher to clear in the short term. However, if the final dividend can go up by another 5 to 10 cents, and couple that with positive guidance, then even $18 could not stop it!
Again, the above is not a recommendation, but just me daydreaming on the first trading day of 2024.
Referral
These are the referral links for the services and platforms I used. If you would like to use any of them, do sign up my referral links.
Trust Bank (code: 1X9DDP1V, additional $10 Fairprice voucher)
Keppel Electric
FSMOne (code: P0003528)
StocksCafe (code: TFI)