CORPORATE IT UPDATE-(C)1995-2011 M2 COMMUNICATIONS
20 May 2011 - Shares in German Xing (ETR:O1BC) have enjoyed gains of up to 116% in the past few months, riding on the high wave of technology and Internet euphoria amid investors and offering an attractive dividend yield.
Xing, which is a social media network for professionals, has announced an extra dividend of EUR20m, which gives a dividend yield of around 7% even after the share price jump in the last months.
The liquid assets of EUR40m remaining after that, or EUR7.60 per share, in combination with profit projections give a price to earnings ratios of between 25 and 19 for 2011 and 2012.
Xing has over 10.8m users, of whom 4.7m in Germany. In the first quarter of 2011 the company made a net profit of EUR2.7m, up by 114% on the prior-year period. First-quarter revenue surged by 24% to EUR15.7m.
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