ComfortDelGro brings forward dividend payment date due to Presidential Election

COMFORTDELGRO on Tuesday (Aug 22) said it will pay out its interim dividend of S$0.029 per ordinary share a day earlier than planned, because the original payment date – Sep 1 – has been declared a public holiday for the Presidential Election. 

The interim dividend, for its financial year ending Dec 31, 2023, was declared on Aug 14. The land transport company said the dividend would be issued on the back of its strong performance for its fiscal half ended Jun 30.

Its revenue had grown to S$1.86 billion in the half year, up from S$1.84 billion in the same period last year. Its profit after tax and minority interests (Patmi) came in at S$78.5 million, down 7.4 per cent or S$6.3 million on the year, excluding the one-off gain recognised in H1 2022 from the sale of the group’s Alperton property in London. 

The S$0.029 interim dividend represents a dividend payout ratio of 80 per cent of Patmi, the group emphasised in its statement, noting that it has generally paid out 70 to 80 per cent of Patmi in dividends over the years.

With the change in payment date, ComfortDelGro said it closed the share transfer books and register of the members of the company at 5pm on Tuesday, to determine shareholders’ entitlement to the declared interim dividend.

Shares of ComfortDelGro closed up 1.6 per cent or S$0.02 at S$1.26 on Tuesday, before the announcement.