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Fu Yu Corp's special dividend in 1H21 is 'key highlight' in 1H21 results: CGS-CIMB

Felicia Tan
Felicia Tan8/26/2021 07:23 PM GMT+08  • 2 min read
Fu Yu Corp's special dividend in 1H21 is 'key highlight' in 1H21 results: CGS-CIMB
The counter is currently the highest dividend-yielding stock for the brokerage in FY2021.
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CGS-CIMB analyst William Tng has reiterated his “add” call on Fu Yu Corporation with a lower target price of 33 cents from 35.5 cents.

The reduction comes as his Gordon Growth-derived price-to-book value (P/BV) rises to 1.59 times from 1.49 times before on FY2021 BV/share.

That said, Tng has raised his earnings per share (EPS) estimates for the FY2021 to FY2023 by 2.1-8.2% on the back of the company’s higher net profit.

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