The share price of Minor International Public Company Limited (SET: MINT) extended gains despite poor performance in the broad market in Thailand on Thursday.
The share price of one of the world’s largest hotel groups settled higher in the morning session, extending gains by THB0.25 or 0.88% to THB28.50 per share. MINT has gained 14.50% during the last nine trading days, including today.
The company had just announced a dividend payment for its operations in 2024 at a price of THB0.35 per share, which will be paid on 23 May 2025. The ex-dividend date is 7 May 2025.
The announcement of dividend payment came after MINT reported strong business performance in 2024. The company has achieved a milestone in its financial performance, with its net profit climbing 43% year-over-year to a remarkable THB 7,750 million in 2024. This remarkable achievement is a testament to the company’s robust operations, sustained global travel demand, and fortified financial standing.
Kasikorn Securities offers an optimistic outlook on Minor International (SET: MINT) following the analysts meeting after the company reported robust earnings for its 2024 operations along with strong guidance for the next three years.
The firm reiterated its “Buy” recommendation for MINT with a target price of Bt43.02, representing 55% upside from the closing price of Bt27.75 per share on Monday. The positive outlook is based on MINT’s strategy to increase operating leverage through the asset-light model. The stock is currently trading at a PER (Price-to-Earnings Ratio) of 18.1x for 2024 and 15.9x for 2025.
