UBS: Maintain target price of HK$8.9 for CHINA GAS HOLD (00384) with a "Buy" rating.
The management has indicated that the dividend per share for the year ending at the end of March 2027 will be no less than 0.35 Hong Kong dollars. The decrease in dividend payout ratio is explained as the retention of funds for capital expenditures to support a target growth rate of 15%.
UBS released a research report stating that it maintains a target price of HK$8.9 for CHINA GAS HOLD (00384) and a "buy" rating. The management indicated that the dividend per share for the end of March 2027 will be no less than HK$0.35, with the decrease in dividend payout ratio explained as retaining funds for capital expenditures to support a target growth of 15%. This indicates that the reduction in dividends reflects reinvestment for future growth rather than weak cash flow.
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