In 2021, COSCO declared a total dividend of 0.12 per share. COSCO hike the dividend to 0.19 per share in 2022. The dividend increase is about 58%.
But despite the dividend increase, COSCO is still heading to the bottom.
COSCO’s PE is only at 2.69X while P/BV is only at 0.3725. These make COSCO one of the cheapest stocks in the market.
Perhaps, COSCO’s 58% increase in dividend failed to buy love from investors and traders.
COSCO is not stopping at dividend hike to woo investors, it also renewed a share buyback program. COSCO will be spending 2 billion to buy its own shares in 2023.
The dividend hike and the share buyback program only show COSCO’s resolve to deliver value to shareholders.
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