Thorn Group (ASX:TGA) share price closes 6% lower as it goes ex-dividend

The takeover target will pay a final dividend to shareholders on 21 July.
The post Thorn Group (ASX:TGA) share price closes 6% lower as it goes ex-dividend appeared first on The Motley Fool Australia. –

The Thorn Group Ltd (ASX: TGA) share price closed 6.67% lower at 21 cents. This came as shares in the household goods operator went ex-dividend today.

Let’s take a look at what investors can expect with the company’s dividend.

Thorn Group dividend summary

Thorn Group will pay shareholders a fully franked 1 cent per share final dividend on 21 July.

At the current share price of 21 cents, the dividend yield of the 1 cent payment is 4.44%.

The company reinstated the dividend distribution schedule from October 2020, after it was periodically terminated in January 2018.

Prior to this, the company had made good on each payment from December 2012 to January 2018.

Time extension on target statement

Yesterday, Thorn Group released a statement referring to the unsolicited on-market takeover offer made by Somers Limited on 18 June.

Somers has offered to acquire all shares in Thorn that it does not already own for 21 cents per share all cash.

In the statement, Thorn outlined it had received a declaration from the Australian Securities and Investments Commission (ASIC) granting an extension of time to provide its target’s statement in respect of the offer.

Thorn states the extension permits the company to include an independent expert’s report, and the target’s statement shall be made to the ASX, ASIC and Somers and Thorn shareholders on or before Friday 16 July 2021.

Thorn has confirmed it will provide the documentation on or before this date.

In the statement, Thorn said:

Thorn reiterates its previous recommendation that shareholders TAKE NO ACTION in relation to the Offer
until they have received and considered Thorn’s target’s statement.

Thorn Group share price snapshot

The Thorn Group share price is around 13% in the green this year-to-date. Over the previous 1 month, Thorn’s share price has increased 2.38%.

This week, the Thorn share price is 2.27% in the red, and on a current share price of 21 cents, Thorn Group has a market capitalisation of $75.9 million.

The post Thorn Group (ASX:TGA) share price closes 6% lower as it goes ex-dividend appeared first on The Motley Fool Australia.

Should you invest $1,000 in Thorn Group right now?

Before you consider Thorn Group, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Thorn Group wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of May 24th 2021

More reading

Thorn Group (ASX:TGA) share price jumps 7% on takeover offer

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!