The share price of Banpu Public Company Limited (SET: BANPU) fell 3.31% to THB11.70 on 10:22 local time on March 8, 2022, which is the first day of an ex-dividend date of the company.
Following the announcement of a turnaround performance of 2021 with net profit of USD 304 million, the Board of Directors of BANPU approved a dividend payment of THB0.25 per share to be paid on 29 April 2022. The ex-dividend date is 8 April 2022.
Krungsri Securities (KS) stated earlier that the increase in BANPU’s share price was due to a surge in coal price that recently hit a record higher at $274.5/mt, while the share price of BANPU is still laggard compared to its subsidiary, ITMG, traded in Indonesia stock market. ITMD had gained 30% this year, whereas BANPU gained only 2.8%.
KS gave a “BUY” recommendation on BANPU with a target price at THB14.00 per share.
