Maybank Securities (Thailand) stated that Kiatnakin Phatra Bank Public Company Limited (SET: KKP) has announced a second-half of 2025 dividend payment of THB 4.20 per share, bringing the full-year 2025 dividend to THB 5.70 per share and exceeding market expectations. This payout represents a 79% payout ratio, notably higher than the securities firm’s forecast of THB 4.50 per share.
For reference, the bank paid a dividend of THB 4.00 per share in 2024, making this year’s increase particularly substantial, the analyst firm remarked.
Maybank noted that KKP is likely to continue prioritizing dividend payments over share buybacks, especially as the bank’s shares are currently trading at approximately 0.95 times price-to-book value (P/BV). This valuation suggests limited immediate upside for buyback strategies, making dividend distribution a more attractive option for returning value to shareholders.
Looking ahead in 2026, and assuming the bank maintains an 80% payout ratio, the projected dividend per share could reach as high as THB 6.20, translating into an appealing estimated dividend yield of 8%. This strong yield could further enhance KKP’s attractiveness to return-focused investors.
