2200 GMT - A2 Milk's maiden dividend policy creates a 2.5% yield that should grow over time, Macquarie says. A2 Milk says it plans to pay out 60%-80% of net profit as ordinary dividends, starting from 1H of FY 2025. "We think this signals confidence in ability to complete supply chain investment and maintain flexibility around growth and risk mitigation," Macquarie says. It can also broaden A2 Milk's investment appeal to yield investors, the bank adds. It retains a neutral call on A2 Milk's stock and trims its price target by 3.4% to A$5.70/share. A2 Milk ended last week at A$5.45. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
November 24, 2024 17:00 ET (22:00 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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