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Definitive Analysis

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Page: Dividend Discount Model

CITIC Telecom International Holdings Limited

Ticker: 1883.HK | Industry: Telecommunications Services | Sector: Communication Services
$2.52 +0.01 (0.40%)
As of: 2026-01-23

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Dividend Discount Models Snapshot

ModelRangeSelected
Stable Growth DDM$4.86 - $6.75$5.73
Multi-Stage DDM$2.77 - $3.04$2.91
Blended Fair Value$4.32
Stock Price$2.54

Dividend History (Last 10 Years)

Metric2024202320222021202020192018201720162015
DPS0.2570.2450.2300.2150.2000.1900.1700.1330.1240.113
YoY %4.80%6.55%6.92%7.59%5.20%11.68%27.65%7.75%9.63%10.62%
Yield10.106%9.643%9.050%8.465%7.868%7.479%6.697%5.246%4.869%4.441%

CAGRValue
5 Year6.21%
10 Year9.67%

Discounted Dividend Model - Stable Growth

MetricRangeSelected
LT Growth-0.30% to 1.70%0.70%
WACC9.00%9.00%
Fair Value$4.86 - $6.75$5.73

Calculation Details (Millions)

MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(*) Adjusted Net Income910.00910.00910.00
(=) Cash Required182.00113.7568.25
Cash Retained910.00910.00910.00
(-) Cash Required-182.00-113.75-68.25
(=) Excess Retained728.00796.25841.75
(/) Shares Outstanding3,701,000,0003,701,000,0003,701,000,000
(=) Excess Retained per Share0.200.220.23
LTM Dividend per Share0.2570.2570.257
(+) Excess Retained per Share0.200.220.23
(=) Adjusted Dividend0.4530.4720.484

Multi-Stage Projections (BASE Case - Millions)

MetricTTMYear 1Year 2Year 3Year 4Year 5
Net Income910.00916.39922.82929.30935.82942.39
Payout Ratio104.4%25.0%41.0%57.0%73.0%90.0%
Projected Dividends950.00229.10378.36529.70683.15848.15

Multi-Stage Valuation (Millions)

Present ValuesLOWBASEHIGH
Year 1 PV217.26219.44221.61
Year 2 PV325.91332.48339.11
Year 3 PV414.44427.03439.88
Year 4 PV485.50505.27525.64
Year 5 PV547.50575.51604.66
TV PV8,269.518,692.639,132.89
Equity Value10,260.1110,752.3511,263.80
Fair Value$2.77$2.91$3.04
Stock Price$2.54$2.54$2.54

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