On February 26, OCBC announced a return of $2.5 billion of capital to shareholders over two years via special dividends and share buybacks. In addition to a final dividend of 41 cents, a 16-cent special dividend was announced on February 26.
Running a banking group is complicated and the group chief financial officer plays a pivotal role in managing the “financial plumbing” of a bank. The role of this unsung hero of the corporate world was brought to light in a recent coffee chat with Goh Chin Yee, group CFO, Oversea-Chinese Banking Corp.
Shareholders of OCBC and companies in general are focused on total shareholder returns - including rising share prices and growing dividends. In the past year, analysts have canvassed the local banks to announce share buybacks. DBS Group Holdings was the first to do so last year, followed by OCBC and United Overseas Bank in February this year.
