2024-05-12 08:00:00
The printed circuit board (PCB) group’s operations have recovered with this year’s economic recovery, attracting buyers. The legal entity expects that major manufacturers such as Zhending (4958), Jianding (3044), Taijun (6269), Taihong (8039), Taiwan Optoelectronics (2383) and other major manufacturers will have a positive outlook with the announcement of dividends and the publication of financial reports. If the relevant groups in the past With smooth interest filling, the potential dividend yield can be expected, attracting the attention of investors.
According to industry observations, PCB Group faced seasonal factors and inventory adjustments in the first quarter of this year, but HDI hardboard factory operations are expected to intensify further in the second quarter, as carrier demand increases. Boards are growing with AI, second half operations expected to be stronger than first half. Strengthening the fundamentals of each plant will also contribute to the interest rate filling trend after subsequent non-dividend transactions.
Optimistic about PCB factories in the second half
Jianding recently announced a dividend distribution. The board plans to distribute a cash dividend of 7.5 yuan per share from last year’s profits, increasing the dividend payout ratio to 65%. .
Taijun, a major flexible board manufacturer, previously decided to distribute a dividend of 5 yuan (including a cash dividend of 4 yuan and a cash dividend of 1 yuan from capital reserves, if converted at the last Friday’s closing price of 100.5 yuan). the potential dividend yield is around 5%.
PCB leader Zhending plans to distribute a dividend of 3.27 yuan from last year’s profits, accounting for nearly 50% of the surplus. If we calculate last Friday’s closing price of 120 yuan, the potential dividend yield is around 2.7%. Xinxing (3037) plans to pay a dividend of 3 yuan last year, which will result in a profit payout ratio of around 38%.
Although the profits of PCB upstream CCL factories were affected by last year’s recession, the profit distribution ratio of each factory remained stable. They are generally optimistic about this year’s operations. The corporate entity said that the growth in revenue of CCL factories this year was. better than that of PCB industry.
Among them, Taiwan Optoelectronics plans to distribute a dividend of 10 yuan last year and distribute about 61% of the surplus. If Friday’s closing price is 416 yuan, the dividend yield is about 2.4%; a dividend of 1.5 yuan, or 416 yuan on Friday, the converted dividend yield is about 2%; Tenghui (6672) plans to distribute a dividend of 3.35 yuan in the second half of last year, with a dividend yield of around 4%; ; Taiyao (6274) plans to distribute a dividend of around 4 yuan from last year’s profits, with a potential dividend yield of around 2.4%.
On the other hand, the dividend distribution of major PCB equipment manufacturers is also the focus of market attention. The average dividend yield of affected equipment manufacturers has been above 4% in the past.
Statistics show that Qunyi (6664) plans to pay a record dividend of 8 yuan last year. Last Friday’s closing price of 186 yuan converted the potential dividend yield to around 4.3%. As for Xunde (6438) and Zhisheng (2467), their dividend yields are also above 2%.
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