WalterBurns
05-08

$TENCENT(00700)$ Lyon's assessment is pretty much in line with what I predicted earlier this year. A dividend of 4% to 5% plus buybacks, and a compound annual profit growth of 10% to 15%. Lyon's research report maintains a "buy" rating on Tencent (00700), believing the company can sustain a compound annual earnings growth of 15% to 20% over the next three years.

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