On Thursday, the share price of True Corporation Public Company Limited (SET: TRUE) closed the morning session at THB 12.60, a THB 0.50 or 4.13% increase, with a total trading value of THB 2,085 million.
TRUE’s gain bucked the broader Thai stock market trend, driven by buybacks following a prior price correction. Meanwhile, underlying fundamentals remain supported by ongoing earnings growth trends and dividend expectations.
Analysts maintain a positive outlook on TRUE’s performance for the second half of 2026, following a second-quarter 2026 net profit of approximately THB 6.6 billion—more than tripling year-on-year and marking its sixth consecutive profitable quarter. Earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at THB 28.3 billion, up 13.5% YoY, driven by top-line growth and cost-management efficiency.
For the third-quarter 2026 outlook, market participants expect TRUE’s earnings to remain strong, anchored by expanding mobile business revenues, disciplined cost controls, and post-merger synergy benefits that support long-term profit margins.
TRUE’s market appeal is further supported by its dividend policy. The company previously declared an interim dividend of THB 0.15 per share for 2Q26, representing a payout ratio of approximately 79% of net profit. Analysts estimate that at share price levels between THB 11.50 – 12.00, the stock yields approximately 4.1 – 5.0%, enhancing its attractiveness during market volatility.
Earlier, TRUE’s share price faced pressure from supply overhang concerns triggered by reports that China Mobile might reduce its equity stake. However, analysts view this as a short-term headwind that does not materially impact core business fundamentals, suggesting that prior price pullbacks created buying opportunities for long-term investors focused on earnings growth and dividends.
Consequently, today’s gain in TRUE is supported by post-correction price recovery, robust Q3 2026 earnings expectations, and an attractive dividend yield, all of which underpin the stock’s valuation moving forward.
