Nan Ya Plastics (1303-TW), one of the 4 major entities of Formosa Plastics Group (FPG), announced today on July 3rd that the company distributed cash dividend of NTD5 per share and the ex-dividend reference price was NTD73.3. However, affected by the US-China trade war, the market demand became weak. Nan Ya Plastics fell by 1.77% to NTD72 in intraday sessions, facing a decline following the ex-dividend date.
In the past 8 years, the share price of FPG’s 4 major entities hiked following the ex-dividend date within 30 days for many times: Formosa Plastics Group for 6 times, Nan Ya Plastics for 5 times, Formosa Chemicals & Fibre for 4 times and Formosa Petrochemical for 5 times.
The weak market demand due to the US-China trade war, and the market variables in 2H19 has weighed on the FPG’s 4 major entities. Following the ex-dividend dates, Formosa Plastics Group dropped by 3.2%; Formosa Chemicals & Fibre (1326-TW) fell by 1.9%; Formosa Petrochemical fell by 2.2%. At present, it is not likely share price to hike following the ex-dividend date.