Stock Name: AXIATA
Company Name: AXIATA GROUP BERHAD
Axiata's FY11 core net profit of RM2.54bn came in within house and consensus expectations. Positively, management proposed a final tax exempt dividend of 15sen/share, bringing total net dividend to 19sen which translates into a 63% dividend payout ratio. Consequently, we increase our payout assumption for forward years from 35% to 65% given management's revised dividend policy of a minimum 65% payout ratio. We maintain our HOLD recommendation as we opine that there is not much upside potential given the current valuation.
Source: ECMNewz Bits 24 February 2012 and view the original report at here
Company Name: AXIATA GROUP BERHAD
| Research House: ECMLIBRA | Price Call: HOLD | Target Price: 5.19 |
Axiata's FY11 core net profit of RM2.54bn came in within house and consensus expectations. Positively, management proposed a final tax exempt dividend of 15sen/share, bringing total net dividend to 19sen which translates into a 63% dividend payout ratio. Consequently, we increase our payout assumption for forward years from 35% to 65% given management's revised dividend policy of a minimum 65% payout ratio. We maintain our HOLD recommendation as we opine that there is not much upside potential given the current valuation.
Source: ECMNewz Bits 24 February 2012 and view the original report at here
No comments:
Post a Comment