Midea Shares May be Boosted by Dividends, Buybacks
Dow Jones
Aug 31
0333 GMT - Midea Group's shares may be further boosted by its plans for dividends and buybacks, Nomura analysts say in a note. The Chinese home-appliance company has declared an interim dividend of 5 yuan per 10 shares for 1H. Management is also considering buying back shares and distributing most of its profit over the next three years, they say. Nomura raises its target price for the stock to 99.50 yuan from 98.50 yuan, while maintaining a buy rating. Shares are 1.6% higher at 87.62 yuan in Shenzhen.
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