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<Research>JPM Expects MGM CHINA (02282.HK) 2026 EPS/ Div. Yield to Fall, Downgrades Rating to Neutral
Recommend 4 Positive 8 Negative 8 |
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MGM CHINA (02282.HK) declared a final DPS of $0.35, with an annual dividend payout ratio of 50%, JPMorgan published a research report saying. While a dividend yield of 5.5% is not bad, peers have raised their average dividend payout ratio to about 70%, raising market expectations for MGM CHINA. Although the yield was in line with forecast, its EPS was unexpectedly weak, with the final DPS about 10% lower than the estimations of the broker/ market. More concerning is the expected 11% decline in MGM CHINA's FY2026 EPS due to higher license fees, implying that the dividend yield may further drop unless the Company lifts its dividend payout ratio or delivers a special dividend, which currently seems unlikely. Therefore, JPMorgan downgraded MGM CHINA to Neutral. AASTOCKS Financial News Website: www.aastocks.com |
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