Monday, October 03, 2011

Yanzhou Coal purchased

This afternoon I added some additional shares in Yanzhou Coal (HK:1171) to the portfolio. The company is on a trailing PE of 6.7 and a dividend yield of 4.7%. While many (most?) brokers are predicting meaningful growth in earnings and dividends for the current and next financial years, at current prices such assumptions are not really necessary to justify a purchase. The only negative is the relatively high debt level.

I paid HKD14.78 for he additional shares.

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