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Dividends preferred over share buybacks for shareholder returns: OCBC CEO Helen Wong

The bank aims to keep its excess capital as dry powder to support franchise flows and potential inorganic growth opportunities that may pop up

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Benjamin Cher

Benjamin Cher

Published Fri, Nov 8, 2024 · 01:34 PM
    • OCBC CEO Helen Wong is looking to focus on flows in Asia.
    • OCBC CEO Helen Wong is looking to focus on flows in Asia. PHOTO: BT FILE

    OCBC prefers to give dividends over share buybacks to return excess capital to shareholders, said chief executive Helen Wong.

    “It is the same results (as) doing shareholder returns, but I keep the capital base,” she said at the third-quarter 2024 earnings briefing on Friday (Nov 8).

    This bucks the trend from other local banks, with DBS embarking on a share buyback programme which will see it cancel shares bought on the open market, while UOB said a share buyback programme is not off the books.

    OCBC

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