UOB group CEO Wee Ee Cheong says at the result briefing on Nov 6 that there is no change to its policy of 50% dividend payout. “Our 2025 final dividend will not, let me emphasise, will not be impacted by this preemptive general allowance,” says Wee, who is also the bank’s largest shareholder.
Following the release of 3QFY2025 ended Sept 31 results of DBS Group Holdings and United Overseas Bank (UOB), DBS’s share price rose by almost $2, while UOB’s share price fell by more than $1, to adjust for their respective dividend commitments.
Firstly, UOB announced that it had proactively set aside a pre-emptive general provision (GP) of $615 million, resulting in a net profit plunge to $443 million in 3QFY2025. Excluding the impact of the pre-emptive GP, net profit would be about $1.06 billion, down 26% q-o-q and 37% y-o-y.
