Latest news with #Singtel28
Business Times
23-05-2025
- Business
- Business Times
Singtel jumps 3.6% on S$0.10 per share dividend, S$2 billion share buyback plan
[SINGAPORE] Shares of Singtel rose on Thursday (May 22) morning after the telco giant announced a final dividend of S$0.10 per share and initiated its first share buyback programme of up to S$2 billion. As at 11.21 am, the counter climbed to S$3.99, 3.6 per cent or S$0.14 higher than its Wednesday closing price of S$3.85, with 30.1 million shares changing hands, ShareInvestor data showed. This is the highest price Singtel shares have risen to in more than five years – the last time this happened was in 2017. By 1.24 pm, the counter had eased back down to S$3.96, still up by 2.9 per cent or S$0.11, with 35.3 million shares transacted. On Thursday, Singtel returned to the black with S$2.8 billion net profit for its second half ended March. The telco proposed a final dividend of S$0.10 per share. It also disclosed plans to repurchase S$2 billion worth of shares in the open market as part of its capital management strategy; this maiden share buyback programme will be executed over three years, until FY2028. Repurchased shares will be cancelled, and funding for the programme will be underpinned by excess capital from Singtel's asset-recycling proceeds. Under its Singtel28 growth plan, the company is raising to S$9 billion its mid-term asset-recycling target that it set at S$6 billion in May 2024.
Business Times
22-05-2025
- Business
- Business Times
Singtel initiates its first share buyback programme of up to S$2 billion; incorporates cloud business
[SINGAPORE] Local telecommunications giant Singtel on Thursday (May 22) has authorised its first share buyback programme of up to S$2 billion, as part of the company's capital management strategy, in addition to incorporating its wholly owned subsidiaries in Singapore such as Singtel International Digital Services (IDS) and IDS Cloud. The programme, which will be delivered over the course of three years until financial year 2028, involves the purchase of shares in the open market that will subsequently be cancelled. The buybacks will be carried out at the management's discretion and is subject to market conditions. This programme is also on top of share buybacks for the group's employee share schemes. The group said that funding for the share buybacks will be underpinned by excess capital from the group's asset recycling proceeds. In May 2024, Singtel set a mid-term asset recycling target of S$6 billion under its Singtel28 growth plan which it is now raising to S$9 billion. The value realisation share buyback programme is the latest capital management initiative undertaken by Singtel, following a change in dividend policy in May 2024 to include a value realisation dividend in addition to a core dividend. The value realisation dividend was introduced to return excess capital to shareholders. Singtel's value realisation share buyback programme will be administered in accordance with Singtel's Share Purchase Mandate, which allows the purchase of up to 5 per cent of its total issued shares (excluding treasury shares and subsidiary holdings) and is subject to shareholder approval at each annual general meeting. As for its wholly owned subsidiaries, Singtel International Digital Services (IDS) was incorporated on Feb 6 with an issued and paid-up capital of S$2. Its principal activity is that of a holding company. IDS Cloud on the other hand was incorporated on Feb 7, with the same issued and paid-up capital of S$2, where its principal activities are the sale and provision of cloud services and related solutions. Shares of Singtel closed 1.1 per cent or S$0.04 higher at S$3.85 on Wednesday before the news.
Straits Times
22-05-2025
- Business
- Straits Times
Singtel launches $2b share buyback as full-year profit swells to $4.02b on one-off gains
Excluding one-off gains, Singtel's underlying net profit rose by a 9 per cent to $2.47 billion. ST PHOTO: TARYN NG Singtel launches $2b share buyback as full-year profit swells to $4.02b on one-off gains SINGAPORE - In its first such move, Singtel on May 22 announced it will buy back up to $2 billion in shares over three years, as it reported net profit jumped four times to $4.02 billion. However, in announcing its full-year results for the financial year ended March 31, the telco noted that underlying net profit rose by a more moderate 9 per cent to $2.47 billion. The big boost to net profit came from a net exceptional gain of $1.55 billion, mainly from the partial divestment of its Comcentre headquarters, compared to a net exceptional loss of $1.47 billion a year ago. Singtel also noted that net profit would have increased 11 per cent year-on-year if currency fluctuations were taken out of consideration. It said the underlying net profit - which the group's core dividend is based on - was driven by robust performance from its Optus unit in Australia, technology consultancy NCS and regional associates Airtel and AIS. Operating revenue remained steady while earnings before interest, taxes, depreciation and amortisation grew 5 per cent. Earnings before interest and taxes at Optus saw a 55 per cent increase from improvements in its mobile business and cost management, Singtel said. Continued inprovements in delivery margins and cost optimisation also drove NCS' earnings before interest and taxes up 39 per cent. Singtel proposed a dividend of 10 cents per share, comprising 6.7 cents in core dividend and 3.3 cents in a value realisation dividend introduced in May 2024 to return excess capital to share holders. Meanwhile, funding for the share buybacks will be underpinned by excess capital from the group's asset recycling proceeds, Singtel said. In May 2024, Singtel set a mid-term asset recycling target of $6 billion under its Singtel28 growth plan which it is now raising to $9 billion. Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
22-05-2025
- Business
- Business Times
Singtel returns to the black with S$2.8 billion H2 profit on exceptional gain, unveils S$2 billion buyback programme
[SINGAPORE] Singapore Telecommunications (Singtel) returned to the black with a net profit of S$2.8 billion for its second half ended March 2025, compared with a net loss of S$1.3 billion for the previous corresponding period. The turnaround came on a net exceptional gain of S$1.51 billion mainly from the partial disposal of its Comcentre property and from the share of Airtel's gains which were partially offset by impairment, regulatory and tax provisions. Singtel also announced on Thursday (May 22) that the group has authorised its first share buyback programme of up to S$2 billion, as part of the company's capital management strategy. Funding for the share buybacks will be underpinned by excess capital from the Group's asset recycling proceeds. In May 2024, Singtel set a mid-term asset recycling target of S$6 billion under its Singtel28 growth plan which it is now raising to S$9 billion. On its H2 performance, Singtel said the net exceptional gain of S$1.51 billion came mainly from the partial disposal of the Comcentre property and share of Airtel's gains. The results translate to a basic earnings per share of S$0.1688, against a loss per share of S$0.0813 previously. Operating revenue for the second half was up at S$7.2 billion from S$7.1 billion in the year-ago period. Singtel's board has proposed a final dividend of S$0.10 per share, consisting of a core dividend of S$0.067 per share and a value realisation dividend of S$0.033 per share. The counter ended Wednesday 1 per cent or S$0.04 higher at S$3.85 before the news.
