On June 3, Geelong reported that Sealand Securities' research reports indicated that China Coal Energy (601898.SH) planned to distribute interim and special dividends, increasing the company's high dividend nature. Assuming the company's net income attributable to the parent in the first half of 2024 is 10 billion yuan, the interim dividend is in the range of 3 to 10 billion yuan. By the middle of 2024, after special dividends are added, the total is expected to be between 4.5 billion and 11.5 billion yuan based on a total share capital of 13.26 billion shares, corresponding to a dividend per share of 0.339-0.867 yuan (including tax), corresponding to a current dividend yield of 2.6% -6.5% (closing price on May 31). The company has sufficient cash on its books and a continuously optimized asset-liability structure. Considering the company's high proportion of long-term contracts, which demonstrates performance stability, and future production increases at the company's Dahaizhi, Li Bikou, and Weizigou mines and its coal chemical business is gradually increasing, growth is foreseeable, and the “buy” rating is maintained.
研报掘金丨国海证券：中煤能源高分红属性增强，煤化工业务陆续放量，维持“买入”评级
Research Report Nuggets丨Guohai Securities: China Coal Energy's high dividend attributes have increased, coal chemical business is expanding one after another, maintaining a “buy” rating
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