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Increasing shareholder returns, maintain BUY

。 Taking into account the boost from the proposed 1- for -10 bonus issue, 2024E dividends shound be 24% yoy higher. Thses move are welcome and increase return visibility and yield certainty.
。 Despite these, we estimate 2024E CET1 of 14.3% well above regulatory minimums. This gives further capital return opportunities , in ous view, including special dividends going forward.
。 DBS' s target price $37.66. Maintain BUY.
Above is the excerpt from report by Maybanks Research on DBS

Please DYODD.

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Sin_Cos_Tan ( Date: 07-Feb-2024 08:59) Posted:

DBS Full year net profit rose 26 per cent to a high of $10.3 billion.
Proposes
1-for-10 bonus issue
Final dividend of 54 cents per share

Barring unforeseen circumstances, the annualised ordinary dividend going forward will be $2.16 per share over the enlarged share base,
which represents a 24 per cent increase from $1.92 per share for financial year 2023.

Sin_Cos_Tan ( Date: 06-Feb-2024 11:31) Posted:

2023 4Q final dividend at least 48c + special 50C
Huat arh....

2022
4Q final dividend	13-Feb-23	10-Apr-23	21-Apr-23	42 one-tier
Special dividend	13-Feb-23	10-Apr-23	21-Apr-23	50 one-tier

2023
3Q interim dividend	6-Nov-23	14-Nov-23	27-Nov-23	48 one-tier
2Q interim dividend	3-Aug-23	11-Aug-23	24-Aug-23	48 one-tier
1Q interim dividend	2-May-23	9-May-23	22-May-23	42 one-tier

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If you hold 1,000 shares
2023 dividend : $1.92x1,000=$1,920
2024 including bonus shares you have: 1,100 shares
and you will get dividend of $2.16 x1,100=$2,376
Increase : 2,376-1,920=$456

Winnertakeall ( Date: 07-Feb-2024 19:20) Posted:

Expect more opportunities for capital returns, even with 1-for-10 bonus issue: DBS CEO
Tan Nai Lun Michelle Zhu - Published Wed, Feb 07, 2024 · 11:26 am

DBS chief executive Piyush Gupta expects there will be more opportunities to return capital to shareholders, given the bank&rsquo s ample excess capital.

This was even as the bank has proposed to raise dividend payouts and issue bonus shares to increase the pace of capital returns to its shareholders, in its fourth quarter results released on Wednesday (Feb 7).

Gupta said at a media briefing on the results: We decided to go for a bonus issue just because it gives certainty into the future. It builds it into the base, and gives some confidence that this dividend will be there.

DBS proposed a final dividend of 54 cents per share for the fourth quarter, up 6 cents from the previous payout.

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Winnertakeall ( Date: 07-Feb-2024 19:20) Posted:

Expect more opportunities for capital returns, even with 1-for-10 bonus issue: DBS CEO
Tan Nai Lun Michelle Zhu - Published Wed, Feb 07, 2024 · 11:26 am

DBS chief executive Piyush Gupta expects there will be more opportunities to return capital to shareholders, given the bank&rsquo s ample excess capital.

This was even as the bank has proposed to raise dividend payouts and issue bonus shares to increase the pace of capital returns to its shareholders, in its fourth quarter results released on Wednesday (Feb 7).

Gupta said at a media briefing on the results: We decided to go for a bonus issue just because it gives certainty into the future. It builds it into the base, and gives some confidence that this dividend will be there.

DBS proposed a final dividend of 54 cents per share for the fourth quarter, up 6 cents from the previous payout.

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Sin_Cos_Tan ( Date: 07-Feb-2024 11:32) Posted:

The bonus shares will qualify for dividends, starting from the first-quarter 2024 interim dividend,
and will increase the pace of capital returns to shareholders, the bank said.

DBS表示，该红股将从 2024年第一季度中期股息开始获得股息，并将加快股东资本回报的步伐。

Sin_Cos_Tan ( Date: 07-Feb-2024 10:14) Posted:

A company that issues bonus shares demonstrates that it has sufficient share reserves and/or profits
to reward prospective investors and current shareholders.
Share issues also signal that a company is in a financially sound position to keep growing and adding shareholder value.

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The bonus shares will qualify for dividends, starting from the first-quarter 2024 interim dividend,
and will increase the pace of capital returns to shareholders, the bank said.

DBS表示，该红股将从 2024年第一季度中期股息开始获得股息，并将加快股东资本回报的步伐。

Sin_Cos_Tan ( Date: 07-Feb-2024 10:14) Posted:

A company that issues bonus shares demonstrates that it has sufficient share reserves and/or profits
to reward prospective investors and current shareholders.
Share issues also signal that a company is in a financially sound position to keep growing and adding shareholder value.

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A company that issues bonus shares demonstrates that it has sufficient share reserves and/or profits
to reward prospective investors and current shareholders.
Share issues also signal that a company is in a financially sound position to keep growing and adding shareholder value.

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ie $0.54 per qtr without taking into consideration the special bonus. Huat arh...

Sin_Cos_Tan ( Date: 07-Feb-2024 09:35) Posted:

The bonus shares will qualify for dividends, starting from the first-quarter 2024 interim dividend, and will increase the pace of capital returns to shareholders, the bank said.

Barring unforeseen circumstances, the annualised ordinary dividend going forward will be $2.16 per share over the enlarged share base.
https://www.straitstimes.com/business/dbs-q4-profit-up-2-to-239-billion-proposes-1-for-10-bonus-issue

chubbybastard ( Date: 07-Feb-2024 09:25) Posted:

Does this mean gling forward div will be $0.216 per share after the 1 for 10 bonus issue

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The bonus shares will qualify for dividends, starting from the first-quarter 2024 interim dividend, and will increase the pace of capital returns to shareholders, the bank said.

Barring unforeseen circumstances, the annualised ordinary dividend going forward will be $2.16 per share over the enlarged share base.
https://www.straitstimes.com/business/dbs-q4-profit-up-2-to-239-billion-proposes-1-for-10-bonus-issue

chubbybastard ( Date: 07-Feb-2024 09:25) Posted:

Does this mean gling forward div will be $0.216 per share after the 1 for 10 bonus issue?

Sin_Cos_Tan ( Date: 07-Feb-2024 08:59) Posted:

DBS Full year net profit rose 26 per cent to a high of $10.3 billion.
Proposes
1-for-10 bonus issue
Final dividend of 54 cents per share

Barring unforeseen circumstances, the annualised ordinary dividend going forward will be $2.16 per share over the enlarged share base,
which represents a 24 per cent increase from $1.92 per share for financial year 2023.

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DBS Full year net profit rose 26 per cent to a high of $10.3 billion.
Proposes
1-for-10 bonus issue
Final dividend of 54 cents per share

Barring unforeseen circumstances, the annualised ordinary dividend going forward will be $2.16 per share over the enlarged share base,
which represents a 24 per cent increase from $1.92 per share for financial year 2023.

Sin_Cos_Tan ( Date: 06-Feb-2024 11:31) Posted:

2023 4Q final dividend at least 48c + special 50C
Huat arh....

2022
4Q final dividend	13-Feb-23	10-Apr-23	21-Apr-23	42 one-tier
Special dividend	13-Feb-23	10-Apr-23	21-Apr-23	50 one-tier

2023
3Q interim dividend	6-Nov-23	14-Nov-23	27-Nov-23	48 one-tier
2Q interim dividend	3-Aug-23	11-Aug-23	24-Aug-23	48 one-tier
1Q interim dividend	2-May-23	9-May-23	22-May-23	42 one-tier

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2023 4Q final dividend at least 48c + special 50C
Huat arh....

2022
4Q final dividend	13-Feb-23	10-Apr-23	21-Apr-23	42 one-tier
Special dividend	13-Feb-23	10-Apr-23	21-Apr-23	50 one-tier

2023
3Q interim dividend	6-Nov-23	14-Nov-23	27-Nov-23	48 one-tier
2Q interim dividend	3-Aug-23	11-Aug-23	24-Aug-23	48 one-tier
1Q interim dividend	2-May-23	9-May-23	22-May-23	42 one-tier

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分析师：本地三银行全年业绩料获双位数增长

三家本地银行去年全年盈利估计仍可取得双位数增长，但由于美国联邦储备局自去年第三季初，已停止加息，分析师预计，这三家银行第四季的盈利增长势头将放缓。
尽管如此，由于资本充裕，它们很可能会增加派息或派发 特别股息 。

三家本地银行即将陆续发布截至去年底的第四季和全年业绩。星展银行将率先于星期三（ 2月 7日）开市前发布业绩，接着是大华银行（ 2月 22日）和华侨银行（ 2月 28日）。
https://www.zaobao.com.sg/finance/singapore/story20240205-1466545

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Final Dividend : 19 c
Ex-Dividend Date : Apr 25, 2024
Payment date : May 08, 2024

Sin_Cos_Tan ( Date: 23-Jan-2024 09:16) Posted:

IR calendar
2nd Half & FY 2023 results
Date of announcement : 1 Feb 2024

Sin_Cos_Tan ( Date: 02-Jan-2024 09:01) Posted:

Keppel delivers higher shareholder returns in 2023 amid transformation efforts

Keppel has delivered total shareholder returns of 61.1 per cent for 2023, on the back of the company' s overhaul to be a global asset manager
and operator that is more dynamic and asset-light in nature, said chief executive Loh Chin Hua in a New Year message to employees on Jan 1.

The latest annual returns figure was higher than the company' s full-year returns of 49.3 per cent in 2022.
Keppel exceeded the upper end of its asset monetisation goal range of $3 billion to $5 billion ahead of its end-2023 target.

It also announced a further target of $10 billion to $12 billion in cumulative asset monetisation by end-2026.

The group also continued to grow its funds under management, which amounted to more than $53 billion by the first half of 2023.

https://www.straitstimes.com/business/keppel-delivers-higher-shareholder-returns-in-2023-amid-transformation-efforts

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Singapore tourist arrivals double in 2023 amid global travel recovery

KEY POINTS

The Singapore Tourism Board said that this in line with its forecast, and was at 71% of 2019 levels, the last full year before the COVID-19 pandemic hit the country.
Indonesia topped the ranking for the most amount of tourists to Singapore at 2.3 million, followed by China and Malaysia at 1.4 million and 1.1 million respectively.

https://www.cnbc.com/2024/02/01/singapore-tourist-arrivals-double-in-2023-thanks-to-china-indonesia-malaysia.html

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https://sg.news.yahoo.com/singapore-china-citizens-30-day-visa-free-travel-entry-9-february-105444727.html

kentlim ( Date: 25-Jan-2024 16:32) Posted:

China and Singapore reach agreement on visa-free entry

China and Singapore have reached an agreement on granting visa-free entry for citizens from respective countries for stays up to 30 days, starting on Feb 9.

The policy applies to holders of ordinary passports traveling for purposes of tourism and visiting family members or business, according to the agreement signed between government representatives in Beijing on Thursday.

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Earnings Season Alert: 3 Singapore Blue-Chip Stocks That Could Report Higher Profits

DBS Group (SGX: D05)

DBS is Singapore' s largest bank by market capitalisation.

The lender provides a range of banking, insurance, and investment services to corporations and individuals.

DBS reported a sparkling set of results for its third quarter 2023 (3Q 2023) earnings.

For the first nine months of 2023 (9M 2023), total income grew 27% year on year to S$15.2 billion on the back of a 46% year-o--year jump in net interest income.

Net profit climbed 33% year on year to S$7.8 billion.

The bank hiked its quarterly dividend by 33% year on year to S$0.48, bringing its annualised dividend to S$1.92 per share.

CEO Piyush Gupta believes that the higher-for-longer interest rates will support the group&rsquo s net interest margin.

He did, however, warn that this may come at the expense of loan growth.

Fee income should be supported by wealth management and credit card spending.

2024' s net profit is expected to be maintained around 2023&rsquo s record level, implying that the fourth quarter of 2023 should see a strong set of results on a year-on-year basis.

DBS will release its full-year results on the morning of 7 February.

Elsewhere, the bank also announced last month that it has obtained regulatory approvals to increase its existing stake in Shenzhen Rural Commercial Bank Corporation from 13% to 16.69%.

This transaction will cost DBS around S$376 million and be funded by internal resources and will be immediately accretive to the group&rsquo s net profit and return on equity.
https://sg.finance.yahoo.com/news/earnings-season-alert-3-singapore-233000775.html

Sin_Cos_Tan ( Date: 05-Jan-2024 11:37) Posted:

Year	Yield	Total	Amount	Ex Date	Pay Date	Particulars
2023	6.97%	SGD 2.3	SGD0.48	2023-11-14	2023-11-27	Rate: SGD 0.48 Per Security
			SGD0.48	2023-08-11	2023-08-24	Rate: SGD 0.48 Per Security
			SGD0.42	2023-05-09	2023-05-22	Rate: SGD 0.42 Per Security
			SGD0.5	2023-04-10	2023-04-21	Rate: SGD 0.5 Per Security
			SGD0.42	2023-04-10	2023-04-21	Rate: SGD 0.42 Per Security

Sin_Cos_Tan ( Date: 05-Jan-2024 11:23) Posted:

Looking for Higher Dividends? 4 Singapore Stocks That Look Poised to Pay Out More in 2024

DBS Group (SGX: D05)

The blue-chip group reported a stellar set of earnings for the third quarter of 2023 (3Q 2023).

For the first nine months of 2023 (9M 2023), total income jumped 27% year on year to S$15.2 billion.

DBS paid out an interim dividend of S$0.48, 33% higher than the S$0.36 that was paid out a year ago.

There could be higher payouts from the bank this year as interest rates look set to stay higher for longer.

During its 2023 Investor Day, DBS communicated that it could increase its dividend by S$0.24 per year as a baseline, barring unforeseen circumstances.

DYODD
https://sg.finance.yahoo.com/news/looking-higher-dividends-4-singapore-100000383.html

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IR calendar
2nd Half & FY 2023 results
Date of announcement : 1 Feb 2024

Sin_Cos_Tan ( Date: 02-Jan-2024 09:01) Posted:

Keppel delivers higher shareholder returns in 2023 amid transformation efforts

Keppel has delivered total shareholder returns of 61.1 per cent for 2023, on the back of the company' s overhaul to be a global asset manager
and operator that is more dynamic and asset-light in nature, said chief executive Loh Chin Hua in a New Year message to employees on Jan 1.

The latest annual returns figure was higher than the company' s full-year returns of 49.3 per cent in 2022.
Keppel exceeded the upper end of its asset monetisation goal range of $3 billion to $5 billion ahead of its end-2023 target.

It also announced a further target of $10 billion to $12 billion in cumulative asset monetisation by end-2026.

The group also continued to grow its funds under management, which amounted to more than $53 billion by the first half of 2023.

https://www.straitstimes.com/business/keppel-delivers-higher-shareholder-returns-in-2023-amid-transformation-efforts

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4 Attractive Singapore Blue-Chip Stocks to Buy with Your Year-End Bonus

Keppel Ltd (SGX: BN4)

Keppel is a global asset manager and operates in more than 20 countries providing infrastructure and services for renewables, clean energy, and sustainable urban renewal.

The group released an encouraging 9M 2023 business update that saw revenue rise 5% year on year to S$5.3 billion.

Keppel has also raised around S$1 billion in equity in 9M 2023 and made total acquisitions amounting to close to S$1.7 billion during the same period.

The asset manager outperformed its asset monetisation target with S$5.3 billion of transactions announced since October 2020.

Keppel' s total distributions for 2023 touched ~ S$2.70 per share, inclusive of its distribution-in-specie of Keppel REIT' s (SGX: K71U) units.

Keppel is pushing forward with growth with the recent acquisition of a 50% stake in European Asset manager Aermont Capital.

One of its funds, Alpha Asia Separate Account, also concluded a transaction to purchase mixed-use development Wilkie Edge earlier this month.

https://sg.finance.yahoo.com/news/4-attractive-singapore-blue-chip-233000730.html

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SIA posts passenger traffic growth of 15.8% in December operational update
The Singapore Airlines group' s passenger traffic grew of 15.8% y-o-y for the month of December 2023
while passenger capacity expanded by 16.1% y-o-y.
https://www.theedgesingapore.com/news/aviation-engineering/sia-posts-passenger-traffic-growth-158-december-operational-update

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Temasek disposes of 74.3 mil Keppel REIT units at 91.38 cents
The block came from the dividend in specie from Keppel' s shares.
https://www.theedgesingapore.com/capital/insider-moves/temasek-disposes-743-mil-keppel-reit-units-9138-cents

Expect more opportunities for capital returns, even with 1-for-10 bonus issue: DBS CEO Tan Nai LunMichelle Zhu - Published Wed, Feb 07, 2024 · 11:26 am

Expect more opportunities for capital returns, even with 1-for-10 bonus issue: DBS CEO Tan Nai LunMichelle Zhu - Published Wed, Feb 07, 2024 · 11:26 am

分 析 师 ： 本 地 三 银 行 全 年 业 绩 料 获 双 位 数 增 长

Singapore tourist arrivals double in 2023 amid global travel recovery

China and Singapore reach agreement on visa-free entry

China and Singapore have reached an agreement on granting visa-free entry for citizens from respective countries for stays up to 30 days, starting on Feb 9.

Earnings Season Alert: 3 Singapore Blue-Chip Stocks That Could Report Higher Profits

DBS Group (SGX: D05)

4 Attractive Singapore Blue-Chip Stocks to Buy with Your Year-End Bonus

Keppel Ltd (SGX: BN4)

Expect more opportunities for capital returns, even with 1-for-10 bonus issue: DBS CEO
Tan Nai Lun Michelle Zhu - Published Wed, Feb 07, 2024 · 11:26 am

Expect more opportunities for capital returns, even with 1-for-10 bonus issue: DBS CEO
Tan Nai Lun Michelle Zhu - Published Wed, Feb 07, 2024 · 11:26 am

分析师：本地三银行全年业绩料获双位数增长