- We remain positive on Centurion (SGX:OU8)’s prospects, as the group focuses on property development, acquisitions, and being Centurion Accommodation REIT (SGX:8C8U)’s manager post spin-off of its assets to the latter. Shareholders will receive another dividend in specie this year.
- - Read this at SGinvestors.io -
Dividend in specie in the works.
- Centurion has announced that it will distribute a dividend in specie to shareholders of 1 Centurion REIT unit for every 10 Centurion shares held. The date of the dividend in specie will be announced in due course.
- - Read this at SGinvestors.io -
- Based on Centurion’s current market cap of S$1.2bn and the S$93m value of its 4.9% Centurion REIT shares that Centurion is distributing to shareholders, we estimate that the current dividend in specie works out to a ~7.6% yield. However, as with any dividend distribution, this could be compensated by an almost equal percentage adjustment in the future market price of Centurion.
FY25’s core earnings within estimates.
- Read more at SGinvestors.io.
