Pingtan Marine Enterprise (NASDAQ:PTE)

Pingtan Marine Enterprise (NASDAQ:PTE)

Pingtan is a Hot Dividend Penny Stock To Buy

Pingtan Marine Enterprise (NASDAQ:PTE) is a global fishing company engaging in ocean fishing through its wholly-owned subsidiary, Fujian Provincial Pingtan County Ocean Fishing Group Co., Ltd., or Pingtan Fishing. Pingtan Fishing, a provider of high quality seafood in the PRC, primarily engages in ocean fishing with many of its self-owned vessels operating within the Indian Exclusive Economic Zone and the Arafura Sea of Indonesia.

July 20, 2016: The Company reported that it has announced a dividend profit of $0.01 per share of regular stock extraordinary. The profit was payable in real money approximately August 15, 2016 to shareholders of record on July 31, 2016. This denote the seventh back to back quarterly profit paid by the Company, which it expects to keep paying on a quarterly premise.

August 4, 2016: The Company declared that thirteen angling vessels controlled by the Company have acquired angling licenses from the Ministry of Agriculture and Fisheries of Democratic Republic of Timor-Leste and are required to work in the ocean range of Democratic Republic of Timor-Leste.

Amid the three months finished June 30, 2016, the Company kept on exchanging fish acquired from outsiders to fulfill client requests. The resale produced a positive gross edge on such deals. The positive gross edge in these exchanging exercises incompletely counterbalance the reduction in the Company’s general gross edge for the three and six months finished June 30, 2016.

Mr. Xinrong Zhuo, Chairman and CEO of the Company, remarked, “In the principal half of 2016, our administration group was committed in extension of our angling domains and locale. As of late, we were satisfied to report that we will work thirteen of our angling vessels in the ocean range of Democratic Republic of Timor-Lest. We have seen request in China for regular fish items keep on increasing; we trust this is driven partially by the effect of the Indonesia ban. We will keep on exploring new ranges in which to send our vessels and set our position as a main angling organization inChina.”