Nick,
Special dividend was declared for FY2011 when the net cash position was at SGD 35.682 million. Assuming FCF of 1.5 cents could be generated in 4Q2013, by year end 2013, net cash position would probably reach the SGD 35 million mark again - bench mark level for special dividend - haha!
Unless there are potential M&A activities or major capex for capacity expansion to cater for more work from AMAT (with or without TEL), going by what happened in 2011, chances of special dividend being payout are highly likely, I would say.
Cash & Cash Equivalent (SGD million)
4Q2011 = 37.947 ( debt = 2.265 ) => net cash = 35.682
3Q2013 = 30.134 ( no debt)
4Q2013 (projected) = 30.134 + 343 x 0.015 = 35.279
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Barcelona, Spain, November 14, 2013
Gartner Says Smartphone Sales Accounted for 55 Percent of Overall Mobile Phone Sales in Third Quarter of 2013
- Western Europe Grew for the First Time this Year
- Lenovo Became the No. 3 Worldwide Smartphone Vendor for the First Time
Worldwide mobile phone sales to end users totaled 455.6 million units in the third quarter of 2013, an increase of 5.7 percent from the same period last year, according to Gartner, Inc. Sales of smartphones accounted for 55 percent of overall mobile phone sales in the third quarter of 2013, and reached their highest share to date.
Worldwide smartphone sales to end users reached 250.2 million units, up 45.8 percent from the third quarter of 2012. Asia/Pacific led the growth in both markets - the smartphone segment with 77.3 percent increase and the mobile phone segment with 11.9 percent growth. The other regions to show an increase in the overall mobile phone market were Western Europe, which returned to growth for the first time this year, and the Americas.
“Sales of feature phones continued to decline and the decrease was more pronounced in markets where the average selling price (ASP) for feature phones was much closer to the ASP affordable smartphones,” said Anshul Gupta, principal research analyst at Gartner. “In markets such as China and Latin America, demand for feature phones fell significantly as users rushed to replace their old models with smartphones.”
Gartner analysts said global mobile phone sales are on pace to reach 1.81 billion units in 2013, a 3.4 percent increase from 2012. “We will see several new tablets enter the market for the holiday season, and we expect consumers in mature markets will favor the purchase of smaller-sized tablets over the replacement of their older smartphones” said Mr. Gupta.
While Samsung’s share was flat in the third quarter of 2013, Samsung increased its lead over Apple in the global smartphone market (see Table 1). The launch of the Samsung Note 3 helped reaffirm Samsung as the clear leader in the large display smartphone market, which it pioneered.............................................................
http://www.gartner.com/newsroom/id/2623415
(vested)