On Friday at 11:09 AM (Bangkok time), the share price of Intouch Holdings Public Company Limited (SET: INTUCH) jumped by 5.00% or THB 4.75 to THB 99.75, with a trading value of THB 1.22 billion.
Gulf Energy Development Public Company Limited (SET: GULF) soared by 3.54% or THB 2.00 to THB 58.50, with a trading value of THB 700.18 million.
Kasikorn Securities (KS) raised INTUCH’s rating from ‘HOLD’ to ‘BUY’, setting a target price of THB 105.76 per share. The analyst highlighted that INTUCH’s dividend-per-share (DPS) at THB 6.54 returns a spot yield of 6.9%, surpassing KS’ anticipated 4.5%. This attractive valuation may enhance INTUCH’s share value and growth potential.
DBS Vickers Securities noted that with INTUCH declaring a special dividend of THB 6.54 per share, GULF, as its major shareholder with 1,519,059,306 shares or 47.37% ownership, is set to receive approximately THB 9.93 billion from this distribution.
Additionally, GULF also disclosed an interim dividend of THB 1.01 per share scheduled for payment on 6 March 2025, with an ex-dividend date on 19 February 2025.
The dividend payouts are projected to support the stock prices of both firms in the short term. With INTUCH trading at THB 95, the dividend yield stands at 6.9%, while GULF, priced at THB 56.50, offers a dividend yield of 1.8%. Furthermore, the share swap involving New Co is anticipated to conclude by the second quarter of 2025.
