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BPPlas has consistently rewarded its shareholders with a dividend policy of 40%, which supported a substantive growth trajectory since FY18. In 3QFY21, the company declared a 3 sen dividend, raising 9MFY21 dividend to 9 sen, which already translates to a compelling 6% yield currently. For FY21F, this could be even higher if the group declares 4QFY21 dividends.
For BP Plastics, kenanga research unit maintained its “outperform” call with a target price of RM2.22, based on a financial year ending Dec 31, 2022 (FY22) estimated earnings per share of 18.8 sen and an unchanged ascribed price-earnings ratio of 11.8 times, post accounting for the bonus issue and full conversion of warrants