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PropNex Reports Strong Dividend Amid Revenue Decline

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PropNex Reports Strong Dividend Amid Revenue Decline

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An announcement from PropNex Ltd. ( (SG:OYY) ) is now available.

PropNex Ltd. held its Annual General Meeting, where it reported a decrease in revenue to $783 million for FY2024, primarily due to a drop in commission income from project marketing services. Despite this, the company maintained a strong, debt-free balance sheet with a cash position of $112 million and proposed a total dividend of 7.75 cents per share, the highest since its IPO. The company continues to focus on delivering long-term value to its shareholders, leveraging its strategic positioning and diversified revenue streams to cushion against market volatility.

The most recent analyst rating on (SG:OYY) stock is a Buy with a S$0.96 price target. To see the full list of analyst forecasts on PropNex Ltd. stock, see the SG:OYY Stock Forecast page.

More about PropNex Ltd.

PropNex Ltd. is a company based in Singapore, operating in the real estate industry. It offers a range of services including project marketing and has a diversified revenue stream across various property segments. The company is known for its asset-light and cash-generative business model, which does not rely on capital-intensive investments.

Average Trading Volume: 747,631

Technical Sentiment Signal: Buy

Current Market Cap: S$769.6M

Find detailed analytics on OYY stock on TipRanks’ Stock Analysis page.

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