Dividends yield dividend for utilities sector

PETALING JAYA: Kenanga Research is maintaining a “neutral” outlook on the utilities sector as corporate results for the first quarter of the year (1Q23) have largely fallen within the securities firm’s expectations, coupled with earnings defensiveness and decent dividend yields.

Among the six utility firms under the research house’s coverage, it said YTL Power International Bhd was the only outperformer, after the results of the YTL Corp Bhd’s subsidiary for the nine months ended March 31 exceeded Kenanga Research’s forecasts yet again.