Despite the lacklustre results, HRnetGroup maintained its interim dividends per share (DPS) of 1.87 cents, which translates to a record high dividend payout ratio (DPR) of 80%, Ong highlights.
Maybank Securities analyst Eric Ong has kept “hold” on HRnetGroup with a lower target price of 70 cents from 80 cents previously amid growing macroeconomic uncertainties.
For its 1HFY2024 ended June, HRnetGroup posted a patmi of $21.7 million, down 23% y-o-y. This is below Maybank and consensus’ expectations at 41% and 38% of the full-year forecasts respectively.
