- Kanye West wins over critics with 'daring' new album 'Yeezus'
- Journalist who brought down U.S. general is killed in Los Angeles car crash
- Angelina Jolie stunt double sues News Corp over hacking
- Massachusetts police search NFL player's home in homicide probe: report
- Asian markets tense before Fed; Nikkei outperforms
STOCKS NEWS THAILAND-Total Access Communication down after Q4 profit miss
Shares in Total Access Communication Pcl edged down 0.3 percent to 87.75 baht, underperforming a 0.2 percent gain in the broader stock market, after the telecoms firm's fourth-quarter earnings fell short of estimates.
Total Access shares had fallen 0.3 percent so far this year versus a 1.1 percent gain of the tech subindex and a 7.8 percent gain of the main SET index. Brokers are cautious about the company's spending on network expansions.
"Despite strong seasonality, DTAC's fourth-quarter core net profit fell 9 percent quarter on quarter, due mainly to higher costs related to 3G/850MHz," CIMB Securities said in a report.
The broker reiterated an 'underperform' rating on the stock, citing DTAC's 3G strategy that could heighten its capital expenditure and earnings risks in the medium term. Its target price on the stock is 95 baht.
"The CFO said that DTAC will issue debentures to finance 3G capex and improve its capital efficiency by managing excess cash through lumpy dividend," CIMB said.
DTAC declared a 1.66 baht quarterly dividend per share, 152 percent dividend payout versus the company's 80 percent minimum payout policy, the broker said.
For the company dividend statement, click
1057 (0357 GMT) (Reporting by Viparat Jantraprap in Bangkok; Editing by Gopakumar Warrier)
- Tweet this
- Share this
- Digg this