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研報掘金丨民生證券:兗礦能源23年分紅與經營穩健,維持“推薦”評級

民生證券研報指出,23年兗礦能源(600188.SH)分紅與經營穩健,共計派發現金股利110.84 億元,佔歸母淨利潤的55.04%,並且期待公司提質增效。2023年公司生產商品煤13211萬噸,同比增長0.6%;其中兗煤澳洲增量明顯。展望2024年,公司將深化開展“兩增三降四提升”活動。重點突出產品產量、達產達效項目“兩個增加”。2025年公司仍有1000萬噸/年五彩灣四號煤礦投產,公司產量有望持續增長。考慮到公司資本開支相對穩定,未來產量仍有提升空間,且公司保底現金分紅比例60%,股息率具備投資價值,維持“推薦”評級。

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