China Coal Energy (01898) rose more than 3% against the market, up 3.46% to HKD 9.86 with a turnover of HKD 132 million as of press time.
According to the WiseNews APP, China Coal Energy (01898) rose more than 3% against the market, up 3.46% to HKD 9.86 with a turnover of HKD 132 million as of press time.
In terms of news, China Coal Energy announced that its commodity coal production in May was 11.68 million tons, up 5.1% year on year, with commodity coal sales of 22.91 million tons, up 0.6% year on year. For the first five months, commodity coal production was 54.89 million tons, down 1.2% year on year and commodity coal sales were 109.18 million tons, down 11.2% year on year.
In addition, China Coal Energy announced that, on the basis of the profit distribution plan for 2023, it will further distribute CNY 1.5 billion in special dividends to shareholders; the company also announced that it proposes to distribute mid-term dividends for 2024, with a dividend payout ratio of no less than 30%. CCB International believes that, considering China Coal Energy's healthy cash flow and the improvement of its balance sheet, dividend payouts are expected to at least maintain the current level in the coming years, bringing dividend returns in line with its peers.