- LHN (SGX:41O)’s FY23 dividends of 3 cents (1 cent interim + 1 cent final + 1 cent special dividend) was a positive surprise for us, a robust dividend yield of 9.2%. Excluding the recent disposal of subsidiary LHN Logistics (SGX:GIH), revenue increased by 10.9% to S$93.6mln, driven by growth in co-living keys and stable occupancy rates.
- - Read this at SGinvestors.io -
- Operating cash flows of S$54.2mln in FY23 (FY22: S$41.2mln) are more than sufficient to cover FY23 dividends of 3 cents (~ S$12.3mln). LHN's shareholders have the option of receiving the special dividend of 1 cents in the form of scrip shares. See LHN's dividend dates.
Revenue growth across all segments.
- - Read this at SGinvestors.io -
- The Facilities Management business revenue grew 14.8% y-o-y to S$31.3mln as more carpark projects and facilities management contracts were secured.
- While LHN will not see contributions from the logistics business moving forward, maiden contributions from the Energy business and Property Development will help fill up the gap left behind by the disposal of LHN Logistics.
Transfer from Catalist to Mainboard.
- Read more at SGinvestors.io.
Chan En Jie Lim & Tan Securities Research | https://www.limtan.com.sg/ 2024-01-15
Previous report by LIM:
2023-09-22 LHN - Cash Infusion From Divestment.
Price targets by 2 other brokers at LHN Target Prices.
Listing of research reports at LHN Analyst Reports.
Relevant links:
LHN Share Price History,
LHN Announcements,
LHN Dividends & Corporate Actions,
LHN News Articles
