Singapore Bank Dividends
Projected dividends for 2023 are significantly higher than 2022 as bank earnings have increased significantly.
Will update table when Q4 2023 is released.
DBS Group Holdings (SGX:D05)
OCBC Bank (SGX:O39)
United Overseas Bank (SGX:U11)
DBS has the highest payout ratio of all 3 banks. UOB & OCBC have historically maintained payout ratios at about 50%.
Sharp drop in 2020 for all 3 banks as MAS “imposed” a cap to shore up the capital positions of all 3 banks during COVID.
Dividend Payout Ratio is simply Dividend Per Share / Earnings Per Share. Gives us a gauge as to how sustainable the dividend is.
50% Dividend Pay Out Ratios mean the banks are able to retain earnings to grow the business, which is why Earnings Per Share has trended up over the the last decade.