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Definitive Analysis

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Page: Dividend Discount Model

TK Group (Holdings) Limited

Ticker: 2283.HK | Industry: Chemicals - Specialty | Sector: Basic Materials
$2.49 +0.03 (1.22%)
As of: 2026-01-23

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Dividend Discount Models Snapshot

ModelRangeSelected
Stable Growth DDM$4.34 - $5.91$5.09
Multi-Stage DDM$3.10 - $3.41$3.25
Blended Fair Value$4.17
Stock Price$2.59

Dividend History (Last 10 Years)

Metric2024202320222021202020192018201720162015
DPS0.2160.1150.1150.1340.1100.1900.1800.1500.1100.080
YoY %88.54%0.27%-14.85%21.89%-41.96%5.59%20.16%36.18%37.50%110.26%
Yield8.358%4.433%4.421%5.192%4.260%7.338%6.950%5.784%4.247%3.089%

CAGRValue
5 Year2.64%
10 Year18.99%

Discounted Dividend Model - Stable Growth

MetricRangeSelected
LT Growth-1.03% to 0.97%-0.03%
WACC9.66%9.66%
Fair Value$4.34 - $5.91$5.09

Calculation Details (Millions)

MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(*) Adjusted Net Income261.85261.85261.85
(=) Cash Required52.3732.7319.64
Cash Retained261.85261.85261.85
(-) Cash Required-52.37-32.73-19.64
(=) Excess Retained209.48229.12242.21
(/) Shares Outstanding827,620,000827,620,000827,620,000
(=) Excess Retained per Share0.250.280.29
LTM Dividend per Share0.2160.2160.216
(+) Excess Retained per Share0.250.280.29
(=) Adjusted Dividend0.4700.4930.509

Multi-Stage Projections (BASE Case - Millions)

MetricTTMYear 1Year 2Year 3Year 4Year 5
Net Income261.85261.76261.67261.58261.49261.40
Payout Ratio68.4%25.0%41.0%57.0%73.0%90.0%
Projected Dividends179.1565.44107.28149.10190.89235.26

Multi-Stage Valuation (Millions)

Present ValuesLOWBASEHIGH
Year 1 PV61.8762.4963.12
Year 2 PV91.5693.4295.30
Year 3 PV114.88118.39121.98
Year 4 PV132.77138.22143.84
Year 5 PV147.72155.34163.27
TV PV2,018.842,122.922,231.25
Equity Value2,567.642,690.792,818.75
Fair Value$3.10$3.25$3.41
Stock Price$2.59$2.59$2.59

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