12% dividend yield with cash balance ＞ mkt cap; Maintain BUY

28 Mar 2024 CMB International Global Markets | Equity Research | Company Update New Hope Services (3658 HK) 12% dividend yield with cash balance > mkt cap; Maintain BUY New Hope Services reported industry-average-level earnings with NP up 6% YoY in FY23. The company raised its dividend payout ratio to 60% from 48% in FY22, representing a yield of 12%, which boosted the share price by 6% in two days after announcement. We like the company for its clear strategy, high business concentration, high dividend yie ...