Thai stock dividend summary for Q1 2024 with the 5 highest paying stocks
In the first quarter of 2024, 815 companies listed on the Stock Exchange of Thailand announced combined profits of 269 billion baht, a slight increase of 1.7% compared to the same period last year. But it grew by more than 50% compared to the last quarter.
It can be seen that profits are relatively stable. Because large industrial groups such as energy, banking and pharmaceuticals do not generate high growth. The companies that will achieve outstanding growth will be in the areas of packaging, communications, finance, retail, etc.
Look at the figure of 5 stocks that achieved the highest profits in the first quarter of 2024.
List of the top 5 listed companies with the highest profits in the first quarter of 2024
1. PTT Company or PTT Public Limited
Net profit reached 28,967 million baht, an increase of 3.99% over the previous year.
2. PTTEP or PTT Exploration and Production Public Company Limited
Net profit amounted to 18,682 million baht, a decrease of 3.10% from the previous year.
3. KBANK or Kasikorn Bank Public Company Limited
Net profit reached 13,485 million baht, an increase of 25.55% over the previous year.
4. Credit and Savings Bank or Credit and Savings Bank
Net profit amounted to 11,281 million baht, an increase of 2.60% over the previous year.
5. KTB or Krung Thai Bank Public Company Limited
Net profit amounted to 11,078 million baht, an increase of 10.05% over the previous year.
Thai stock dividends are not growing much. But still better than expected
An analysis by AIRA Securities revealed that it has a positive view on the announcement of first-quarter 2024 results as most of them announced better profits than market expectations. This is likely to be the main supporting factor for analysts to gradually increase their EPS estimates for the SET Index.
Bloomberg's latest consensus sees the stock market price at 93.6 baht per share, while AIRA Securities' view is 93.0-96.0 baht per share, trading at a P/E of around 15.0 times +/-, at -1 SD below PE level. The 5-year average is at 18.0 times, leaving the SET index currently with limited downside risk
Meanwhile, there is still a positive view on the rebranding of long-term equity mutual funds, or LTFs. This is considered the positive psychology of the Thai stock market trend. We expect to start seeing clarity on the different circumstances. During the months of May and June
UOB Kai Hian Securities He revealed that the main positive points for Thai stocks are the acceleration of budget disbursement in the third quarter of 2024 and stimulating the economy in the fourth quarter of 2024, whether that is an increase in the minimum wage and a digital wallet that will support the rise in profits of listed companies, which is a sign that confirms the continued strong recovery of Thai stocks.
However, during the months of May and June, the market still faces volatility. The research department considers it a gradual investment opportunity. There are still no clear fundamental negative factors. But you may need to be more careful when speculating on stocks that are still lagging and should set a stop loss point. The sales goal is to make a profit
The Thai Stock Market Index frame is evaluated at the support level of 1,349 – 1,359 points and the resistance index frame is evaluated at the level of 1,380 – 1,390 points.
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