PBBANK45年的价值投资

If a shareholder of Public Bank had bought 1,000 shares
in Public Bank when it was listed in 1967, and assuming
the shareholder had subscribed for all rights issues to
date and had not sold any of the Public Bank shares,
he would have, at the end of 2011, 135,398 Public Bank
shares worth RM1,811,625 based on the share price of
Public Bank (Local) shares of RM13.38 at the end of
2011. In addition, he would have received a total gross
dividend of RM776,137 whilst having only invested a
capital outlay of RM48,760, including subscription for all
rights issues. The dividends received and the appreciation
in value translate to a remarkable compounded annual
rate of return of 19.5% for each of the 44 years that this
shareholder has held the shares in Public Bank since it
was listed in 1967.

- Page 75, 2011 Annual Report

根据昨天的闭市价(RM14.24)来计算的话,股票价值是RM1,928,067.如果今年的派息是50sen的话,股息收入是RM67,700.一个月都有RM5,600可以花.45年的总股息收入是RM843,837.总收益是RM2,771,904.
如果早期的股息再投资和每逢股灾就加码大众的话,回酬肯定更可观.