The share price of Origin Property Public Company Limited (SET: ORI) dropped 8.41% in the morning session to close at THB9.80 per share on the ex-dividend date on May 9, 2022.
The company will hand out a dividend payment of THB0.42 per share from its 2H21 operations and retained earnings on May 24, 2022. However, the plummet in the morning session on Monday was twice as much as its dividend payment, dropping THB0.90 or 8.41% per share.
ORI is on pace for its three-day losing streak and more than 11% decrease in five trading days.
Still, brokers expected ORI’s revenue in 2022 to increase slightly by 1.65%, but net profit is projected to increase 15%, while EBITDA is expected to grow 25% to 4,231 million baht, according to data compiled by Refinitive. Four out of four brokers recommend “BUY” on ORI with a consensus target price at THB13.20 per share.
On May 3, 2022, ORI announced that it had successfully completed the transaction to acquire three of Erawan Group’s hotels for the total purchase price of THB 1,050,000,000.