- OCBC (SGX:O39) unveiled a 2-year S$2.5bn capital return plan via special dividends and share buybacks. This is a much welcome addition to our investment thesis for the stock – a good defensive option given solid asset quality and capital levels, and connectivity play, where it is well poised to benefit from supply chain shifts.
OCBC's 4Q24 results in line.
- - Read this at SGinvestors.io -
- FY24 reported ROE stood at 13.7%, slightly below the >14% target but flat y-o-y.
- The fully phased-in CET-1 ratio under Basel III reforms was at 15.3% (3Q24: 15.6%).
- A final dividend of S$0.41 together with a special dividend of S$0.16 were declared (4Q23: S$0.42) – ahead of our S$0.43 expectations. This brought total dividend to S$1.01 (2023: S$0.82) and translates to a payout of 60% (FY23: 53%). See OCBC's dividend payout dates.
Results highlights.
- - Read this at SGinvestors.io -
- Key highlights include:
- Read more at SGinvestors.io.
Singapore Research RHB Securities Research | https://www.rhbgroup.com/ 2025-02-27
Previous report by RHB:
2025-01-23 OCBC - 4Q Earnings Could Drop Double Digits; All Eyes On Dividend & Capital Management Plans.Price targets by 4 other brokers at OCBC Target Prices.
Listing of research reports at OCBC Analyst Reports.
Relevant links:
OCBC Share Price History,
OCBC Announcements,
OCBC Dividend Payout Dates & Corporate Actions,
OCBC News
