DBS: Raises target price for China Unicom to HKD 12.1, expects cloud business to drive profit and dividend rise.

Jin10 data June 16 news, DBS issued a report, raising the target price for China Unicom (00762.HK) H-shares from HKD 11.1 to HKD 12.1, maintaining a "buy" rating. The bank also pointed out that the company confirmed an annual dividend of RMB 0.40 per share last year, a rise of 20.1% year-on-year, with a payout ratio increasing by 5 percentage points year-on-year to 60%. Although China Unicom is the only one of the three major mainland telecom operators that has not committed to a payout ratio, the bank expects the company to gradually raise the payout ratio to 65% by next year.