SingPost slashes dividend as e-commerce unit keeps bleeding
It says dividends will now be paid out of underlying earnings
Singapore
POSTAL and e-commerce group Singapore Post has cut its interim dividend by a third in a bid to keep payouts sustainable, as postal margins slipped and its e-commerce segment continued to operate at a loss ahead of the peak year-end shopping season.
The group proposed an interim dividend per share of one Singapore cent for the quarter ended Sept 30, 2016, down from 1.5 cents previously, adding in a statement that domestic mail volumes were dropping and that it would pay its quarterly dividends out of its underlying earnings from now on.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
China’s Bank of Communications Q1 profit rises 1.44%
Huawei’s smart car tech offers automakers route to China sales
Electrolux Q1 loss nearly triples on weak demand but beats expectations
DigitalBridge-backed Vantage said to weigh Hong Kong data centres sale
Vietnam delays launch of new stock trading system
Tesla’s plan for affordable cars takes page from Detroit rivals