The group declared a final dividend and special dividend of 1.0 cent each, taking total payout to 3.0 cents, translating into an attractive yield of 7.0%.
Maybank Research is keeping its "buy" call on co-living operator LHN with an increased target price of 55 cents from 43 cents previously. This comes on the back of the group reporting its FY2024 ended September, which saw promising growth.
Excluding fair value gains and other non-recurring items, FY2024 core PATMI of $29 million beat Maybank's and market's expectation at 116%/106% of full year estimates, respectively. The stellar performance was mainly driven by strong demand for its co-living segment, which achieved a high occupancy rate of 97.5%, coupled with stable rental rates.
