DBS Group - UOB Kay Hian 2024-02-08: Accelerating Pace Of Returning Surplus Capital To Shareholders

DBS Group - Accelerating Pace Of Returning Surplus Capital To Shareholders

Published:
DBS (SGX:D05) | SGinvestors.ioDBS (SGX:D05)
  • DBS’s 4Q23 dividend increased by 6 cents to 54 cents. Quarterly dividend is expected to remain at 54 cents in 2024 after the 1-for-10 bonus issue. See DBS's bonus issue date.
  • - Read this at SGinvestors.io -
  • Management will continue to review DBS’ capital structure in view of returning more surplus capital to investors. Maintain BUY.

DBS's 4Q23 Highlights

  • DBS Group (SGX:D05) reported net profit of S$2,269m for 4Q23, down 3% y-o-y and 12% q-o-q. The results included one-time integration costs of S$24m for Citibank Taiwan and contribution of S$100m to Corporate Social Responsibility (CSR). Operationally, 4Q23 results were in line with our expectation.

Slower growth for net interest income.

  • - Read this at SGinvestors.io -
  • CASA outflows eased in 4Q23. Net interest income grew at single-digit rate of 4.7% y-o-y.

Tepid loan growth.

  • Read more at SGinvestors.io.



Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.



Jonathan KOH CFA UOB Kay Hian Research | https://research.uobkayhian.com/ 2024-02-08



Read also UOB's most recent report:
2025-02-11 DBS Group - Returning Excess Capital Over 3 Years During 2025-2027.

Previous report by UOB:
2024-11-08 DBS Group 3Q24 - Double Down On Capital Management.

Price targets by 4 other brokers at DBS Target Prices.

Listing of research reports at DBS Analyst Reports.

Relevant links:
DBS Share Price History,
DBS Announcements,
DBS Dividend Payout Dates & Corporate Actions,
DBS News






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