KBank sees diminished baht
Dividends sent overseas a factor
Kasikornbank (KBank) forecasts the baht will weaken further against the US dollar by June this year because of dividend repatriation by foreign investors and the country’s lower current account surplus.
For May 17-21, dividend payments of SET-listed companies are expected to exceed 18.7 billion baht, while the following week the amount is estimated at 6.53 billion. Repatriation of these dividends will continue to pressure baht depreciation, said KBank.
Dividend payments by listed companies on the Stock Exchange of Thailand are scheduled from March to May this year, while dividend repatriation of offshore companies peaked at 20.6 billion baht from April 19-23 this year.
Kobsidthi Silpachai, KBank’s head of capital markets…
