Brokers' take
Singapore Post | Hold
Target price: S$1.42
Aug 29 close: S$1.365
OCBC Investment Research, Aug 29
EVER since SingPost's annual general meeting in mid July, the stock has been retreating and has lost about 12.7 per cent of its value ever since. In our view, this could be partly due to the group's official statement that it will be reviewing its dividend policy to ensure there is a clear link to underlying earnings, which we believe is a prudent and responsible move on the company's part. Recall that the group paid out a S$0.07/share dividend for FY15 and FY16; before this, it was paying out S$0.0625/share divid…
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