Singapore banks’ dividends leave market mixed despite resilient Q4; outlook for 2024 remains stable

SINGAPORE banks wrapped up 2023 with another set of resilient earnings, with results for the fourth quarter largely in line with estimates.

But amid expectations of higher dividend yields, the dividends that each lender has proposed respectively have left market reactions mixed.

Shares of DBS rose after it proposed to raise its final dividend to 54 Singapore cents per share for Q4, and issue one bonus share for every existing 10 ordinary shares held.