- Keppel Corp (SGX:BN4)’s 1H23 net profit of S$445m was broadly in line with our S$474m forecast, forming 45% of our FY23F. The key surprise was the special Dividend In Specie (DIS) of ~352.4m units in Keppel REIT (SGX:K71U) to Keppel Corp’s shareholders, based on 1 Keppel REIT unit for every 5 Keppel Corp shares held. This works out to be S$0.183 per Keppel Corp shares. See Keppel Corp's announcement dated 27 Jul 2023. This is subject to shareholders’ approval at an EGM.
- - Read this at SGinvestors.io -
- Infrastructure’s 1H23 net profit grew by 109% y-o-y to S$291m, thanks to stronger margins and net profit of S$245m (1H22: S$34m) from integrated power operations in Singapore.
- Read more at SGinvestors.io.
Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.
LIM Siew Khee CGS-CIMB Research | Kenneth TAN CGS-CIMB Research | https://www.cgs-cimb.com 2023-07-28
Read also CGS-CIMB's most recent report:
2024-02-01 Keppel - Infrastructure Powering Recurring Income.Previous report by CGS-CIMB:
2023-11-29 Keppel Corporation - Making Headway Into Europe.Price targets by other brokers at Keppel Corp Target Prices.
Listing of research reports at Keppel Corp Analyst Reports.
Relevant links:
Keppel Corp Share Price History,
Keppel Corp Announcements,
Keppel Corp Dividends & Corporate Actions,
Keppel Corp News Articles
Keppel Corporation - 55th Anniversary Surprise Dividend In Specie
Keppel Corp (SGX:BN4)
