Dividend yields for Singapore banks climb above 5%, but is this the right time to buy?
Uma Devi • • 5 min read
“Our positive view on Singapore banks rest on their attractive dividend yields of above 5%, which differentiate them from their regional peers,” says UOB Kay Hian lead analyst Jonathan Koh.
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SINGAPORE (Feb 24): Banks appear to have had a good run in FY2019, as DBS, OCBC and UOB lifted their dividends by 10%, 22% and 8.3% respectively.
Apart from dividends, all three banks also reported higher earnings in 4QFY2019 ended December. DBS reported a 14.3% increase in earnings to $1.51 billion, while OCBC booked a 34.2% spike in earnings to $1.24 billion. Not to be outdone, UOB too posted earnings of $1.01 billion, a y-o-y increase of 10%.
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