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Chevron Lubricants Lanka PLC: 11th July 2016

The document summarizes dividend information for Chevron Lubricants Lanka PLC over the last several years. It shows that the dividend per share has increased each year from 2013 to 2015. The payout ratio has also increased each year over that period. Forecasts suggest that if the company maintains its current dividend policy, the dividend per share for 2016 will be Rs. 14. It also provides valuation metrics for the company such as P/E ratio and price-to-book value compared to sector averages. Quarterly earnings are shown for the last four quarters.

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Nuwan Tharanga Liyanage
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84 views6 pages

Chevron Lubricants Lanka PLC: 11th July 2016

The document summarizes dividend information for Chevron Lubricants Lanka PLC over the last several years. It shows that the dividend per share has increased each year from 2013 to 2015. The payout ratio has also increased each year over that period. Forecasts suggest that if the company maintains its current dividend policy, the dividend per share for 2016 will be Rs. 14. It also provides valuation metrics for the company such as P/E ratio and price-to-book value compared to sector averages. Quarterly earnings are shown for the last four quarters.

Uploaded by

Nuwan Tharanga Liyanage
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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CHEVRONLUBRICANTS

LANKAPLC
11thJuly2016
LLUB.N0000Rs.153.30
ChevronLubricantsdividendsummaryin
lastthreeyears

FY2013 FY2014 FY2015

Dividend Per Share (LKR) 15.00 20.00 23.00

YoY dividend growth 36% 33% 15%

Dividend Payout 71% 87% 89%

Dividend Yield 6% 5% 7%
BreakdownofLLUBdividends
LKR. FY2011 FY2012 FY2013 FY2014 FY2015 FY2016

First Interim 2.50 3.00 3.00 4.00 5.00 6.00

Second Interim 3.00 3.00 3.00 5.00 6.00 5.00

Third Interim 3.50 2.00 4.50 5.50 6.00

Fourth Interim 3.00 3.00 4.50 5.50 6.00

Total Dividend 12.00 11.00 15.00 20.00 23.00

Adjusted DPS 6.00 5.5 15.2 10.00 11.50

The proportion of the sub division was 01 existing ordinary share in to 02 ordinary shares.

Hence, the last year dividend of Rs.23.00 has adjusted to the sub division and the adjusted
dividend per share was Rs.11.50
ForecastedDividendforFY2016
If the company maintain the same dividend policy for FY2016 the forecasted dividend
would be,

First Interim Second Interim Third Interim Fourth Interim

DPS(LKR) 3.00 5.00 3.00 3.00


Forecasted dividendforFY2016 14.00
Dividendyieldatthecurrentprice(LKR153.30) 9.1%

The interim dividend of Rs.6.00 per share has been declared before the
subdivision of shares. Therefore it has adjusted for the subdivision.

If the company declare the dividend for the 3rd and 4th interims same as the
previous years (FY2015), the adjusted dividend per share for the FY2016 would
be Rs.14.00
Valuation
MPS (LKR) EPS (LKR) ROE PE (x) PBV (x) NAV (LKR)

ASI - - 11% 12.8 1.5 -


Material Sector - - 18% 9.3 1.7 -
LLUB.N0000 153.30 13.9 59% 11.0 6.5 23.64

QuarterlyEarnings

June 2015 Sep 2015 Dec 2015 Mar 2016

LKR Millions 797.15 834.76 713.32 985.92


Disclaimer
The information and the opinions contained herein were compiled by Capital TRUST Securities (Pvt) Ltd, and are based on
information obtained from reliable sources in good faith. However, such information has not been independently verified
and no guarantee, representation or warranty expressed or implied is made by Capital TRUST Securities (Pvt) Ltd and its
related companies as to its accuracy or completeness. This report is not and should not be construed as an offer to sell or a
solicitation of an offer to buy any security. Neither Capital TRUST Securities (Pvt) Ltd nor its related companies, directors
and employees can be held liable whatsoever for any direct or consequential loss arising from any use of this report or the
information contained herein.

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