Stock Name: PETDAG
Company Name: PETRONAS DAGANGAN BHD
Research House: HWANGDBS
Company Name: PETRONAS DAGANGAN BHD
Research House: HWANGDBS
Petronas Dagangan Bhd (PDB), which had RM1 billion in net cash as at end March 2011, is expected to remain generous in its dividend payout for the upcoming financial year.
HwangDBS Vickers Research said it was keeping the dividend payout assumption at 70 per cent which translates into 61.5 sen net dividend per share (DPS).
Yesterday, PDB declared a gross final and special DPS of 60 sen, which was above expectation, said the research house in a statement here, today.
For the financial year ended March 31, 2011, the firm''s pre-tax profit jumped RM1.21 billion compared with the RM1.05 billion registered in 2010. Revenue was up at RM23.27 billion from RM20.69 billion previously.
In a filing to Bursa, PDB said it expects profits for the current financial period to be lower.
This is due to a nine-month financial period, arising from the change in its financial year end from March 31 previously to December 31, beginning 2011.
However, HwangDBS told Bernama that the 70 per cent dividend payout outlook, is still based on the financial year ended March 31, 2012.
For now, HwangDBS is making a "hold" call for PDB shares with a target price of RM12.75. At 11.33 am, PDB shares price stood 40 sen higher at RM15.70. -- Bernama
HwangDBS Vickers Research said it was keeping the dividend payout assumption at 70 per cent which translates into 61.5 sen net dividend per share (DPS).
Yesterday, PDB declared a gross final and special DPS of 60 sen, which was above expectation, said the research house in a statement here, today.
For the financial year ended March 31, 2011, the firm''s pre-tax profit jumped RM1.21 billion compared with the RM1.05 billion registered in 2010. Revenue was up at RM23.27 billion from RM20.69 billion previously.
In a filing to Bursa, PDB said it expects profits for the current financial period to be lower.
This is due to a nine-month financial period, arising from the change in its financial year end from March 31 previously to December 31, beginning 2011.
However, HwangDBS told Bernama that the 70 per cent dividend payout outlook, is still based on the financial year ended March 31, 2012.
For now, HwangDBS is making a "hold" call for PDB shares with a target price of RM12.75. At 11.33 am, PDB shares price stood 40 sen higher at RM15.70. -- Bernama
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