Bursa Malaysia Stock Watch

MAYBANK - Robust earnings, higher dividends

kltrader
Publish date: Fri, 24 Feb 2012, 10:29 PM
kltrader
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Maybank; Buy; RM8.70
Price Target: RM10.60; MAY MK

2QDec11's RM1,297m net profit was driven by higher revenues, albeit offset by higher expenses & provisions. Declared 36sen DPS (32sen applicable for DRP), implying 80% net payout; high payout likely sustainable. Maintain Buy with RM10.60 TP.

Source: HwangDBS Research 24 Feb 2012
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