Buyback flows consistent and acquisition to disposal ratios higher
THE four trading sessions spanning June 23 to June 29 saw the STI add 1.3 per cent, which brought its dividend-inclusive return for the 2017 year to date to 14.9 per cent.
Ten stocks conducted share buybacks over the four sessions with a total consideration of S$11.8 million, up seven per cent from the preceding five sessions. Again, OCBC contributed most to the buybacks, with 800,000 shares purchased at an average price of S$10.76, up from last week's average purchase price of S$10.62.
Buyback activity is expected to decline in July, ahead of second quarter earnings reports and the necessary blackout periods for companies buying back their own shares.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
TikTok tells advertisers: ‘We are not backing down’
EV automakers get reprieve in US tax credit rules
Nomura, Mizuho face losses on All Blue fund’s failed trades
Stablecoin Tether steps up monitoring in bid to combat illicit finance
HSBC asked by US$890 billion investor group to set energy goal
BHP’s biggest rivals sit on the sidelines of Anglo M&A drama