Civmec declared a final dividend per share (DPS) of 3.5 Australian cents, taking the total DPS to 6 Australian cents. Given its net cash balance sheet, Ong believes there is still room for the company to raise its payout ratio.
Maybank Securities analyst Eric Ong has kept “buy” on Civmec (SGX:P9D
) with a target price of $1.05 following the company’s FY2024 ended June results.
For its 2HFY2024, Civmec posted a patmi of A$32.5 million, up 10.6% y-o-y, bringing full year earnings to A$64.4 million, up 11.7% y-o-y.
