Sheng Siong to maintain 70% dividend payout ratio; expects 'elevated demand' to taper post pandemic

Singapore

SUPERMARKET operator Sheng Siong will continue to pay out about 70 per cent of its net profit as dividends, unless there is a need for cash due to operational reasons or major capital expenditures, chief executive officer Lim Hock Chee said on Friday.

The company had abided by this practice since FY 2017, when the payout ratio was reduced from 90 per cent to 70 per cent as the board felt it needed a "war chest" on hand and decided to conserve cash, Mr Lim said.