Citi anticipates that Beijing Holdings (00392) may gradually increase its dividend payout ratio and catch up with its peers by about 40% to 50%.
The Zhitong Finance App learned that Citi released a research report stating that it lowered the net profit forecast for Beijing Holdings (00392) from 2024 to 25, and the target price was lowered from HK$33 to HK$32.8, and its rating was “buy.” The bank anticipates that the company may gradually increase its dividend payout ratio and catch up with its peers by about 40% to 50%.
According to the report, Beijing Holdings' net profit fell 15.6% year on year to 5.498 billion yuan, lower than expected. The annual dividend was 1.6 yuan, and the dividend ratio rose to 33.1%, exceeding the target level of more than 30%. The company also reiterated that the dividend ratio will increase next year.