- PropNex offers a defensive yield of 6.1% for 2025F, which does not include the potential for further special dividends.
- Although 2024 earnings missed, we highlight that the latter half of 2H24 and 1Q25-to-date saw very strong sales from new launches.
- - Read this at SGinvestors.io -
Focus On Strong 1H25 & 2H25 Results Instead Of Earnings Miss
- PropNex reported 2024 net profit of S$40.9m (-14% y-o-y) on revenue of S$783m (-7% y-o-y), missing our and consensus estimates.
- - Read this at SGinvestors.io -
Special dividend declared.
- PropNex proposed a final dividend of S$0.03/share and a special dividend of S$0.025/share, bringing the total 2024 dividend to S$0.0775/share (or a 140% payout ratio) and the highest since its listing in 2017. See PropNex's dividends payout dates. This implies a 6.8% yield based on yesterday’s closing PropNex's share price.
- We do not rule out the possibility of another special dividend from its 1H25 results, which we expect to be strong.
Bright outlook in 2025.
- Read more at SGinvestors.io.
