"But, whatever dividend we declare, we will try to maintain it for the next year. Since we declared 40 cents per share as our final dividend, for our interim dividend for 2024, we will declare 40 cents; 40 cents is our new base, barring unforeseen circumstances,” adds Tan, speaking at the results briefing on Feb 26.
Great Eastern Holdings’ raised its final dividend in FY2023, to 40 cents, up from its 35 cents interim dividend translating into a payout ratio of 46% against profit attributable to shareholders of $774.6 million.
“Since our interim results in August (2023), we changed our dividend approach. In the past we had a small interim and a substantial final dividend. We are trying to have a more consistent dividend between interim and final," says Ronnie Tan, GEH's group CFO.
